Although these transactions are still in the stage of negotiation and legal review, JLL still assesses this as a positive factor because foreign investors' confidence in the economic recovery and purchasing power people will improve in the next quarters.
On the scale of Asia-Pacific, real estate investment showed signs of recovery in the third quarter with $ 35 billion in direct transactions from July to September, recovery 35% qoq and 19% lower than the same period last year.
Industrial real estate prices in Vietnam will grow strongly in 2020
“The first signs that investment activities started to flourish in the third quarter, with investment volumes improving significantly in China, Korea, and Japan. In the near future, we believe that trading activity will increase although investors remain hesitant about uncertainty and we feel more optimistic about the fourth quarter, ”said Stuart Crow, CEO of JJL Asia Capital Markets - Pacific said.
Specifically, in the third quarter, the industrial market performed strongly with a 76% increase in transactions compared to the same period last year, mainly driven by transactions in the data center and logistics of the region.
“We note the large number of investors reaffirming their taste in logistics and data center real estate. We are optimistic that the second quarter of the year will provide more opportunities in the industrial and housing segments in recovering markets such as Singapore and Vietnam, ”said Ms. Regina Lim, Head of Capital Market Research JLL Asia-Pacific emphasized.
In Vietnam, the Covid-19 epidemic may temporarily disrupt investment, but interest from investors remains strong as Vietnam is seen as a new industrial powerhouse in the region.
According to Cushman & Wakefield Vietnam, as of the end of the third quarter, the average industrial property rental rate in Ho Chi Minh City increased by 4.9% q-o-q and 9.4% year-on-year, mainly due to limited resources new supply and industrial land demand increases in the trend of shifting production out of China.
Logos Property developer Logos Property has just started investing $ 350 million in Vietnam with its first project in Bac Ninh province. In addition, the Global Logistic Properties (GLP) warehouse has announced a $ 1.5 billion joint venture with several logistics zones being deployed in Vietnam.
Mr. Paul Tonkes, Director of Logistics & Industry Services, Cushman & Wakefield Vietnam, said that in both Hanoi and Ho Chi Minh City, the real price increase of industrial land outstripped real estate growth. factory and warehouse for rent. Particularly in some specific areas, rents are still leading, becoming a hot spot for tenants.
“Meanwhile, the industrial zones in the city are still slowly changing, for example, converting areas into clinics, offices, and showrooms. The capital value of industrial land has increased by 20-30% in key economic provinces such as Dong Nai, Binh Duong, and Long An and nearly doubled in some industrial zones in Ho Chi Minh City over the years ”, said Paul Tonkes added.
Ha Bui
Zing.vn
