Singapore industrial space rents, prices up in Q1; likely to remain stable for 2021

RENTALS of industrial spaces in Singapore are likely to remain stable, as the low supply brought about by the pandemic's interruption of construction activities is catching up to the market's growing demand.

According to data released by JTC on Thursday, prices of industrial properties increased by 0.9 per cent quarter on quarter (qoq), while rentals rose 0.6 per cent in Q1 2021, following the upward trend in Q4 2020. This came as delayed completion of new structures continue to persist from last year.

While one million square metres (sq m) of industrial space was originally expected to be completed in Q1 2021, only about 131,000 sq m were completed in the three months.