Singapore industrial sales up 26.6% to S$924.1m in Q4

There were 369 transactions during the quarter.

Despite the interest rate cuts by the US Federal Reserve (Fed) in November and December, Knight Frank noted in a report that Singapore’s industrial property sales activity in the last quarter of 2024 quietened down, following a peak in Q3 2024 that was characterised by many major deals.

Total sales value grew 26.6% y-o-y but fell 70.9% q-o-q to S$924.1 million with 369 transactions in Q4 2024 from S$3.2 billion with 500 deals in the previous quarter.

Here’s more from Knight Frank:

Nevertheless, there were notable deals in the final three months of the year that included, a warehouse at 2 Tuas South Link 1 that was sold for S$140.3 million, and another warehouse at 21 Jalan Buroh that was sold for S$112.8 million. Both deals took place in October.

Leasing activity in the last quarter of 2024 also slowed down, a decline of 4.2% y-o-y and 8.6% q-o-q with a total of 3,020 industrial leasing transactions. A total value of S$25.9 billion in rental transactions was recorded in Q4 2024, a yearly decrease of 0.7% and a quarterly decrease of 11.2%. Notwithstanding the slowdown in manufacturing output at year-end that was accompanied by more cautious business sentiments, island-wide unit rents of all industrial properties generally remained stable numbers across the 25th, median and 75th percentiles.