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Industrial real estate prices and rents dip amid steady occupancies in Q4: JTC

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Overall industrial property rentals fell 0.6 per cent in the fourth quarter, while prices fell 0.1 per cent from the preceding quarter.

OVERALL industrial property rentals fell 0.6 per cent in the fourth quarter, while prices fell 0.1 per cent from the preceding quarter.

Occupancy rates stayed unchanged at 90.9 per cent.

This was according to statistics released by JTC on Thursday.

The state industrial landlord also found that tender prices for its large industrial government land sales (IGLS) sites continued to moderate, while demand for its small IGLS plots - targeted at end-user industrialists - remained strong.

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Some 2.6 million square feet (sq ft) and 2.2 million sq ft of industrial space is expected to come onstream this year and next, JTC said.

This will likely cause further moderation in prices and rents.

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