Singapore industrial rental index up 2.1% in Q2

The price index also grew by 1.5%.

According to a Colliers report, Singapore’s industrial rental and price indices continued their eleventh consecutive quarter of growth in Q2, despite softness in trade indicators. 

The rental index rose by 2.1% QOQ, decelerating from 2.8% QOQ during the previous quarter; while the price index rose by 1.5% QOQ, similar to the pace of growth registered last quarter.

Here’s more from Colliers:

The JTC All Industrial price and rental indices continued their eleventh consecutive quarter of growth during Q2 2023, reaching their highest levels since Q1 2016 and Q1 2015 respectively. This was despite the fact that trade indicators remain soft, with continuous contractions recorded in manufacturing output, NODX and PMI.

Overall vacancy decreased by 0.3%, rebounding from a 0.6% increase during the previous quarter, due to strong demand and tight supply in the warehouse and multi-user factory segments. Conversely, this was tempered by slower demand and a surplus of supply in the single-user factory and business park segments.