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Saturday, July 13, 2024

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real estate sector

Divergent real estate market trends

In 2023, the industrial real estate market maintained its resilience, whereas the housing market witnessed sluggish growth. These divergent trajectories represent the blend of opportunities and challenges that characterized the real estate sector over the past year. Despite the market’s fluctuations, there has been a notable improvement in market sentiment within the real estate industry, particularly in Hanoi and HCMC. This positive shift is highlighted in recent reports from Avison Young Vietnam and CBRE Vietnam. Looking ahead to the next year, analysts predict that the pace of recovery may vary across different segments of the real estate market. A banner year for industrial real estate Despite market uncertainties affecting real estate transactions, land rentals remained consistent across the country. The industrial real estate segment in Vietnam has reported a year of positive growth indicators. “In a challenging year for the economy and the real estate market, the industrial property segment was indeed a bright spot,” stated An Nguyen, senior director of the Hanoi Branch at CBRE Vietnam. By the end of 2023, the average rent for industrial land in HCMC reached US$232 per square meter per lease term. The occupancy rate experienced a year-on-year increase of 2%, with tenants now […]
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