
Chart of the Day: See the slump in Singapore’s factory and warehouse leasing in 3Q
Tenants prefer to renew.
Factories and warehouses remain in a steady state as activity in the industrial leasing market slowed in Q3/2014.
According to a report by Savills, the reviewed quarter saw a 3.2% QoQ decline and is now at Q3/2013 levels with a total of 2,060 deals. The YoY growth is relatively slow as compared to the historical YoY growth for the third quarter in the past four years, averaging at 24.6% per year.
Savills adds that the tepid market is a result of the slowdown in the global economy and also the restructuring of the labour market. Tenancy renewals continue to dominate the market.