RENTS and prices of Singapore industrial space continued to rise for the 13th straight quarter in Q4 2023, but momentum is slowing, JTC data released on Thursday (Jan 25) showed.

Industrial rents rose 1.7 per cent quarter on quarter and 8.9 per cent year on year (yoy). The increase in rentals was led by the multiple-user factory segment, which rose 10.7 per cent yoy.

Tay Huey Ying, JLL’s head of research and consultancy, said: “The 1.7 per cent quarter-on-quarter rise in the all-industrial property rent index was the slowest in six quarters, while the 0.6 per cent quarter-on-quarter rise in the all-industrial property price index was the slowest in nine quarters.”