Rents and prices of Singapore industrial properties have continued to slow down amidst the increase in supply of Singapore’s industrial land and space produced by the government, according to JTC’s report for Q2 2015.
Prices of Singapore industrial property drop by 0.7% on a quarterly basis and 0.9% on yearly basis during the same period.
Particularly to capital values of multi-user factories fell by 0.4% from first quarter of 2015 and 2.3% a year ago. A dipped by 1.1% on quarterly basis for single-user factories, while annual basis unchanged.
Meanwhile, overall rents of Singapore industrial properties declined by 0.7% on a quarterly basis and 2.7% from second quarter of 2014.
However, the level of occupancy for Singapore industrial properties increased from 90.7% in the previous quarter to 91% in second quarter of 2015.
Looking forward, Singapore industrial space with around 1.6 million sq m are projected to introduced in the market by 2H 2015 including the multi-user factory space in 290,000 sq m area.