Prime logistics rent in Singapore rises 3.7% QoQ in Q1

The segment recorded the strongest rental growth for the quarter.

With companies looking for storage space in modern ramp-up developments, prime logistics rent in Singapore saw strong rental growth in Q1.

CBRE data showed that rents from prime logistics rose 3.7% QoQ and 12.8% YoY.

CBRE expects rental performance for prime logistics to be “resilient and see further upside for the year,” given high occupancy and tight supply.

Apart from prime logistics, other industrial segments like warehouses and factories also saw increases in Q1, with rents rising 2.8% QoQ and 1.8% QoQ, respectively.

Overall, CBRE said the industrial market “continues to see broad-based growth across all segments.”