
Industrial property rents, prices soften further in Q2
Blame it on the supply glut.
Industrial property rents and prices softened further in the second quarter, according to statistics released by JTC.
The industrial property price index fell 0.7% quarter-on-quarter to 106.9 points. Rents also fell by 0.7%, while occupancy rate inched up by 0.3%.
JTC noted that about 1.6m square metres of industrial space will come on-stream in the second half, with an additional 2.8m square metres of space expected to come on-stream in 2016.
"This is significantly higher than the average annual supply and demand of around 1.5 sqm and 1.1m sqm in the past 3 years, and is likely to exert further downward pressures on occupancy rates," JTC said.