Published:
Chart of the Day: 60-year leasehold industrial property prices eked out a 1.1% rise to $474psf
What could have caused this?
Although the market lost the buying fervour, prices of industrial properties tracked by Savills experienced only minor corrections in Q3/2013.
Freehold and 30-year leasehold prices slipped by 0.8% and 1.1% QoQ to S$671 and S$363 per sq ft respectively, whereas 60-year leasehold properties still managed to eke out an increase of 1.1%, from S$469 to S$474 per sq ft QoQ.
"Despite a sharp drop in transaction volumes, prices managed to hold up well, indicating that sellers were maintaining their asking prices and were under no pressure to slash prices in order to sell," Savills said.
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