The five localities are Binh Duong, Dong Nai, Long An, and Ba Ria–Vung Tau provinces and Ho Chi Minh City which are home to many industrial parks, according to report by real estate consultancy JLL.

Vietnam's economic performance gives industrial real estate great potential and attracts manufacturers, JLL said. The country's GDP growth in the first half shot up to 5.64 percent.

Major infrastructure works such as the Phan Thiet – Dau Giay Expressway and Bien Hoa – Vung Tau Expressway are set to boost demand for industrial lands further in future, and rents would therefore continue to rise.

Ready-built factory prices rose by 0.5 percent year-on-year to $4.5 per square meter as supply remained stagnant due to Covid-19 concerns.