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Singapore’s industrial properties’ rent and prices rise in Q3

Singapore industrial properties-IFM-image

Rents and prices for industrial properties in Singapore rose in the third quarter of 2021, according to a report by JTC. This is the fourth consecutive quarter that prices and rent for industrial properties in Singapore have gone up.

The report revealed that the rental index of all industrial properties rose 0.7 percent from the second quarter. Year-on-year, rents grew 1.9 percent. When it comes to the price index, it increased by 0.1 percent quarter-on-quarter and by 3.9 percent when compared to the same period in 2020.

Total available stock of industrial space expanded by 228,000 square metres (sq m) in the July-September period, slowing from the quarterly growth of 374,000 sq m growth in the April-June quarter, as per the report.

It further said that about 900,000 sq m of new industrial space could be completed in the fourth quarter of 2021. This will however be, based on approved plans as of end-September 2021. Of this, some 45 percent will be single-user factory space, which is typically developed by industrialists for their own use.

Earlier this year, it was reported that prices of resale non-landed private homes last month soared for the 14th consecutive month, even though fewer units changed hands, according to real estate portal SRX.

Condominium resale prices were up by 1 percent month-on-month, faster than the 0.5 percent growth recorded in August. Resale prices were up 8.9 percent from September 2020 year-on-year.

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