Price Index for Industrial Space in Singapore down 0.1% in Q1

Rents remained flat in the first quarter.

This chart from JTC shows the price index for industrial space in Singapore fell by 0.1% QoQ in Q1 although the price index remained unchanged on a year-on-year basis. The price of the multi-user factory space declined by 0.2% QoQ.

On the rental front, the index remained flat in Q1 on a QoQ basis but eased by 0.2% YoY.

JTC also reported an uptick in the transaction volume in the quarter, up by 7% QoQ and 41% YoY. Occupancy rates of the overall industrial property market in Q1 also rose to 89.3% on a YoY basis but remained flat over the previous quarter.

For the rest of 2019, another 1.2 million sqm of industrial space is estimated to come online, of which 80% is single-user factory space, JTC added.

Source: Singapore Business Review, 29 Apr 2019

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