02 June 2026
The price of warehouse for lease in Vietnam averages approximately US$5.3–5.5 per m²/month for Grade A space in major cities.
We’re here to help you understand what’s really behind these headline figures: the actual 2026 rental rates by region, the cost components most occupiers misjudge when they sign, and Savills’ read on where 2026 prices move from here.
“Viet Nam reflects the regional trend of stability seen across Asia-Pacific. With balanced supply-demand dynamics and competitive rental levels, the market continues to draw long-term interest from both domestic and international occupiers.”
– John Campbell, Head of Industrial Services, Savills Vietnam
In the first half of 2025, premium warehouse rents in Vietnam averaged approximately US$5.3 per m²/month in Ho Chi Minh City and US$5.5 per m²/month in Hanoi (Savills, August 2025).
National average rents for ready-built warehouses sat at US$4.6 per m²/month in 2024, with occupancy at roughly 77% on a national base.
Total ready-built warehouse supply reached 15.1 million m² by end-2024, a 31% year-on-year increase (Savills Vietnam Industrial Real Estate Spotlight 2024).
Two things to read carefully when evaluating the price of warehouse for lease in Vietnam:
– Headline rent vs effective rent: US$5.3–5.5 per m²/month is the asking rate for prime / Grade A space. Effective rent – after rent-free periods, fit-out contributions, and service-charge structure – typically lands 8–12% below asking on a 5-year lease in this market.
– Supply expansion is concentrated: The 31% YoY supply growth is real, but it’s geographically concentrated in Bac Ninh, Hai Phong, Long An, and Dong Nai. Other provinces remain tight.
Understanding regional variations is crucial, as the price of warehouse for lease in Vietnam differs vastly depending on supply constraints, geography, and tenant demographics. Vietnam’s average warehouse rental rate typically ranges from $4.50 to $5.50 per m²/month, but the true picture requires a more nuanced regional breakdown.
Average Rent: $4.50 – $6.00 per m²/month
This region represents the most mature and constrained southern hub, with Binh Duong situated strategically near Ho Chi Minh City, driving strong demand from fast-moving consumer goods (FMCG) and e-commerce sectors.
When considering warehouse for lease in Vietnam’s southern core, occupiers face the highest fit-out cost ceilings due to stringent building requirements, and premium rent is dictated by scarce land availability.
Average Rent: $3.50 – $4.50 per m²/month
Acting as an emerging logistics overflow from HCMC, this southwestern hub offers larger land banks and lower entry costs for businesses seeking warehouse for lease in Vietnam.
While rent per square meter is highly competitive, occupiers face longer logistics lead times and should carefully weigh distance against overall transportation costs to determine true operational efficiency.
Average Rent: $4.50 – $5.00 per m²/month
Serving as the Northern manufacturing and free-trade powerhouse, this region is heavily populated by electronics and high-tech FDI tenants looking for warehouse for lease in Vietnam.
Driven by robust investment, rents here are rising faster than the national average, and occupiers compete for space in a high-demand zone that requires specialized utility and power configurations.
The true cost extends far beyond the base rent, with several components significantly impacting your total occupancy cost. Understanding these additional expenses is crucial for accurate budgeting and financial planning when analyzing the price of warehouse for lease in Vietnam.
The critical cost components that affect warehouse for lease in Vietnam include:
– Rent escalation: Most Vietnam warehouse leases include a fixed annual escalation of 2–5%, sometimes tied to CPI. A 4% escalator compounds to a 22% effective rent increase over a 5-year lease.
– Service charge/CAM: Typically US$0.3–0.6 per m²/month on top of base rent. These charges are not always declared upfront in initial rate quotes for warehouse for lease in Vietnam.
– Fit-out depreciation: Grade A warehouse fit-out runs US$80–150 per m² depending on rack height, dock count, and cold-storage requirements. Amortized over the lease term, this can add the equivalent of US$1.5–3.0 per m²/month to total occupancy cost.
– Lease incentives net of recovery: Rent-free periods of 2–4 months are common but often clawed back through stepped rent escalation.
– Power cost: Vietnam’s industrial electricity tariffs are competitive but tier-structured; warehouses with cold storage or significant materials handling see materially higher operational costs.
As Vietnam’s leading industrial real estate team, we provide specialist consultancy for businesses seeking warehouse for lease in Vietnam. With our extensive market knowledge and experience, we help clients navigate the complexities of the Vietnamese industrial property landscape to find optimal solutions.
With Savills’ global research showing prime warehouse rents up just 1% globally in H1 2025 and Vietnam tracking that regional stability, 2026 looks like a balanced year for occupier negotiation. Supply growth (31% YoY at end-2024) gives tenants leverage they haven’t had since 2019. Whether that translates to actual cost savings depends entirely on how carefully the lease is structured, which is where our specialist advice earns out.
Contact our Savills Industrial team today to discuss your specific warehouse for lease in Vietnam requirements and how we can help optimize your occupancy costs.
Understanding the price of warehouse for lease in Vietnam requires clarity on common questions that arise during the site selection process.
Most warehouse leases in Vietnam run for 3 to 10 years. Ready-built facilities typically span 3 to 5 years, while customized build-to-suit options demand longer commitments of 10 to 15 years to justify the upfront development costs.
Vietnam provides tax incentives for qualifying warehouse operations, primarily contingent on location and specific priority sectors. Standard facilities face a 20% Corporate Income Tax (CIT) rate, but qualifying operations can significantly lower this burden.
Standard warehouse security in Vietnam typically includes 24/7 on-site guards, CCTV surveillance, perimeter fencing, and restricted access control systems. For high-value goods, facilities often provide additional premium measures, such as climate control, bonded cage storage, and advanced alarms.
Yes, warehouse spaces can be highly customized to fit your exact operational needs. The level of customization depends primarily on whether you choose a ready-built space or a tailored development.
