Singapore’s Q3 industrial sales breach 5-year quarterly average

Sales grew by 7.6% You to 440 transactions.

According to a Savills report, following a short-lived recovery in Q2, the strata industrial sales activity in Singapore slowed by 19.7% QoQ to 440 transactions in Q3 due to the high base effect in the preceding quarter.

“Nonetheless, the sales level in Q3 rose 7.6% from a year ago and remained higher than the five-year quarterly average of 387 transactions. This could be due to interest rate cut, as well as better market sentiments alongside improved manufacturing sector’s performance,” the report said.

Here’s more from Savills:

In Q3/2024, growth rate in the JTC industrial and multiple-user factory price index eased by more than half in Q2, rising by 0.5% and 0.7% QoQ respectively.

While Savills’ basket of freehold industrial properties also went up at a slower pace of 0.2% QoQ to S$832 per sq ft in Q3, those prices for 30- and 60-year leasehold properties increased by 3.6% QoQ to S$336 per sq ft and 2.5% QoQ to S$529 per sq ft respectively.