COMMERCIAL PROPERTY | Staff Reporter, Singapore

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.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.