Green shoots for rent at some industrial segments
Better economic outlook cited, but JTC data shows overall industrial rents down another 1.1% in Q3
Singapore
WHILE industrial rentals continued to moderate in the third quarter, the absorption of industrial space has picked up pace in certain sub-segments following positive manufacturing and trade performance in Singapore.
JTC's statistics released on Thursday showed overall industrial rents slipping another 1.1 per cent, making this the 10th straight quarter of decline. Compared to a year ago, industrial rentals have fallen 3.2 per cent.
Tay Huey Ying, JLL's head of research and consultancy in Singapore, believes that this was largely the result of a supply overhang rather than demand pressure.
About 931,000 square metres (sq m) of industrial space is estimated t…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore Q1 industrial rents rise further 1.7%, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction