12 Jan '16, 3pm

Industrial space rent generally fell in 2015

Industrial space rent generally fell in 2015

E-mail to friend Bookmark & Share Singapore saw the average monthly gross rents of first-storey and upper-storey factory space drop 2.3 percent and 2.9 percent quarter-on-quarter to S$2.10 per sq ft and S$1.65 per sq ft in Q4 2015, revealed a DTZ report. This came as landlords felt the impact from the contraction in net demand for multiple-user factory space. DTZ noted that the decline in Q4 resulted in a 4.5 percent and 5.7 percent drop in monthly rents of first-storey and upper-storey factory respectively for the whole of 2015. JTC statistics showed that net demand for multiple-user factories fell to 872,000 sq ft in Q3 2015 from 1.1 million sq ft in Q2 2015. According to DTZ, the fall in demand for factory space was primarily due to the weaker manufacturing sector arising from falling orders from overseas and domestic markets. The manufacturing economy contracted for si...

Full article: http://www.commercialguru.com.sg/property-management-news...

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