Industrial real estate prices and rents dip amid steady occupancies in Q4: JTC
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.
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.
How other real estate segments are doing:
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
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender