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Pandemic to dent demand, prices of Singapore industrial space after Q1

Q1 data reflects market conditions before 'circuit breaker'; pandemic expected to weaken demand

Nisha Ramchandani

Published Thu, Apr 23, 2020 · 09:50 PM

JTC

Singapore

THE coming quarters will bring downward pressure on prices and rentals for industrial space as the Covid-19 pandemic blunts demand, while project completion timelines could be delayed owing to disrupted construction activity.

In the first quarter of this year, prices and rents of industrial space in Singapore fell slightly, while occupancy remained flat, said industrial land and infrastructure agency JTC Corp, adding that the data does not capture the full impact of the outbreak.

JTC highlighted: "The Q1 2020 statistics reflected market conditions from January to March, before the circuit-breaker measures kicked in on April 7. Further, many of these transactions could have been pre-committed pre-…