Chart of the day: Industrial space prices slide down

Overall prices fell 1.7% QoQ.

The industrial space market remains challenging as prices fell across the board. According to a report by OrangeTee, overall industrial property prices fell by 1.7% q-o-q, marking the 8th consecutive quarterly fall in prices. Overall industrial prices have now fallen below levels last seen in 4Q12. Both single-user and multiple-user factories continued to head south, with prices sliding 2.7% and 1.0% QoQ respectively. This came as transaction volumes remain thin.

"Overall transaction volumes continue to remain thin, as industrialists hold back on expansion plans and embark on cost cutting measures," the report said.

Meanwhile, the market is under pressure, as incoming supply continues to overwhelm demand. Overall industrial rents fell 2.0% QoQ in 3Q16. The fall in the rents was broad based with rents in all segments experiencing a fall in rents of -0.2% to -4.4% in 3Q16.

As at 3Q16, factory space and warehouse spaces are at their historical peaks, with 3.99 million sqm and 1.02 million sqm of vacant space. Vacancy rates for factory space and warehouse is currently at 11% and 10.9% respectively.

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