Rentals of factory space increased by 4.5%

But the occupancy rate doesn’t seem to be affected.

According to a release by URA, though lower than the increase of 263,000 sq m in 1st Quarter 2011, the amount of occupied factory space increased by 110,000 sq m in 2nd Quarter 2011. On the other hand, the stock of factory space increased by 184,000 sq m in 2nd Quarter 2011.

The vacancy rate of factory space was 7.1% as at the end of 2nd Quarter 2011, compared with the 6.9% as at the end of the previous quarter.

Prices of multiple-user factory space increased by 5.7% in 2nd Quarter 2011, compared with 8.6% in the previous quarter. Rentals of multiple-user factory space increased by 4.5%, compared with the increase of 8.3 % in the previous quarter.

As at the end of 2nd Quarter 2011, there was a total supply of 3.097 million sq m GFA of factory space from projects in the pipeline.  

Photo credit: Societies Illusion