The boom of the semiconductor sector is said to have direct impacts on the industrial realty sector as demand for factories has been on the rise, according to experts.

Although it was the segment achieving the best growth in property in 2023, industrial real estate is forecast to face many uphill battles in 2024.

Industrial land rents are expected to increase by up to 10 per cent in the next two years in both the north and south thanks to growing demand from various industries, experts have said.

Industrial property was a bright spot in the Viet Nam real estate market through the first half of this year, according to CBRE Viet Nam.

Although the real estate sector has suffered a fall in foreign direct investment (FDI) attraction, experts are still optimistic about its prospects of the sector, especially the industrial segment which is described as a bright spot.

The industrial property landscape in Vietnam is changing with localities looking at raising costs of land.