Opportunity for industrialists in slowdown, uncertainty: JTC
But uncertain business conditions will still temper their impetus to move, market says
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INDUSTRIAL rents in Singapore fell 2.7 per cent quarter on quarter (q-o-q) and 5.1 per cent year on year (y-o-y) in the first quarter of 2016, JTC Corporation's latest statistics released on Thursday show.
Vacancy rates island-wide also rose by 0.5 percentage point to 9.9 per cent - the highest in a decade.
In places such Tuas and Jurong, where new supply outstripped demand, vacancy rates surged six percentage points over the past year to 24 per cent, and median rentals fell 19 per cent to about S$15.63 per square metre per month.
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