Despite sluggish manufacturing progress, the number of leasing activity on a quarterly basis of industrial property market in Singapore increased by 24% to 2,317 in second quarter of 2015.
However, looking back to the same period last year, the total volume of leasing increased by just 8.8%. The results attributed to renewals of rental instead of new take-ups.
During the particular period, some manufacturers also stated their plans to cut down or leave the market. However, factories and warehouses’ monthly rents held stable at S$1.85 per sq ft, high-tech property also remain same at S$3.00 per sq ft.
Although sales of strata-titled warehouses and factories increased by 21% on a quarterly basis as of 24 July with 408 caveats registered, yet it is 24.6% lower than the figure presented last year.
Looking ahead, rents of Singapore industrial premises are likely to stay unchanged or drop up to 1% for 2015. Moreover, prices of 60-year and 30-year leasehold space along with freehold properties are expected to increased by 1%, 0.5% and 3% respectively.
Singapore Industrial Properties such as Proxima @ Gambas and Loyang Enterprise Building provides industrial spaces with customized facilities and reliable infrastructure to accommodate industrial operations.
