Cost concerns weigh on industrial leasing deals and rents in Q3

Singapore

COST concern is among the top priorities for industrialists in Q3 according to the latest quarterly report from Colliers International, resulting in fewer leasing transactions, stagnant rents, and low strata-titled sales.

Said Tan Boon Leong, executive director of industrial services: "Cost containment continued to feature prominently on tenants' corporate real estate agenda when they assessed their space needs. This affected the volume of leasing deals and weighed down on rents. Landlords were also seen adopting a more flexible stance during negotiations."