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COMMERCIAL PROPERTY | Staff Reporter, Singapore
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Chart of the Day: Check out the price slump in upper-storey factory units

Freehold and 30-year leasehold saw price declines in the last quarter of 2016.

In line with the lower demand, upper-storey factory and warehouse units saw marginal price decline in the fourth quarter of last year.

According to the latest report by Savills, other than 60-year leasehold industrial units, which had a 2.1% quarter-on-quarter recovery from the largest price decline of 4.7% qoq in 3Q16, freehold and 30-year leasehold industrial units continued to trend downward in 4Q16.

The price for 60-year leasehold industrial units averaged $453.96 per sq ft, still below the prices recorded since 2013. 30-year leasehold industrial units recorded a new record low price at $358.19 per sq ft after a further dip of 0.6% qoq.

"In spite of the limited supply of freehold industrial developments in Singapore, prices had the largest fall of 2.2% qoq in 4Q16 to $644.58 per sq ft, the lowest price recorded in 2016.

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