Singapore Industrial Space Increases in the price by 0.5% and Rents Down 2%

Singapore industrial properties increased slightly in first quarter of 2015, while rents mostly stabilized, JTC latest statistics shows.

According to the revised property price index (PPI) for overall Singapore industrial properties, prices up by 0.7% on a quarterly basis and 0.5 % year-on-year.

The prices of single-user factory space increased by 1.6% on a quarterly basis while for annual basis prices increased by 3.1 percent. For multiple-user factory space, prices slightly increased to 0.1 percent base on quarterly report and 0.6 percent up on a yearly basis.

Colliers International show that the overall industrial prices grew by 0.7 percent, reversing two previous consecutive quarters of decline. The positive result is generally charged to the 1.6% quarter-on-quarter increase of single-user factories prices, while the multiple-user factories recorded a slight increase in values.

The latest property rental index (PRI) for overall industrial properties revealed that industrial rents of Singapore in the first quarter reverse slightly by 0.4% following a dipped of 0.6% from the previous quarter. However, this drop-off by 2% reflects from the same period a year ago.

For the next three quarters, approximately 2.1 million sq m of industrial space is due to enter Singapore, along with 420,000 sq m of multiple-user factory space. Moreover, an additional 2.5 million sq m of industrial space is expected to come onstream by year 2016. While, the upcoming Proxima @ Gambas is the newest industrial development with site area around 15,665 metre square and TOP date is expected to be in 2018.

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