As more manufacturers are looking to establish production sites in Vietnam, factory land rents and occupancy rates in the country have been rising.

Savills Vietnam, a real estate service provider, was cited by local media as indicating that the industrial land occupancy rates reached 88% in Ho Chi Minh City, 94% in Dong Nai Province, 99% in Binh Duong Province, 84% in Long An Province, and 79% in Ba Ria-Vung Tau Province in 2020.

Average rents per square meter were US$147 in Ho Chi Minh City, US$107 in Binh Duong, US$98 in Dong Nai, US$123 in Long An and US$65 in Ba Ria-Vung Tau in 2020.

In northern Vietnam, Hanoi, Bac Ninh Province, Hing An Province, Hai Duong Province, and Hai Phong City had occupancy rates of 90%, 95%, 89%, 82% and 73%, while their rents per square meter were US$129 (up 13.1% on year), US$95 (9.2%), US$83 (6.4%), US$76 (15%) and US$96 (3.2%), respectively in 2020.