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Chart of the Day: Multiple-use factory rents in west region dipped 0.5% in Q4 2019
A large pool of existing vacant stock remains in the region.
This chart from JTC Corporation shows that the rents of multiple-use factory space in the west region dipped 0.5% QoQ in Q4 2019, whilst the rents in most other regions remained flat. Only the north region saw rents edged up by 0.2%.
Overall, industrial rents remained unchanged in the quarter. Multi-user factory rents slipped 0.1% YoY in Q4 2019. CBRE’s head of research Desmond Sim attributed the easing of rents in the west region to the large remainder of existing vacant stock.
By land-use zoning, rents for factory spaces under Business 1 declined 0.1%, whilst it remained unchanged for spaces under Business 2.
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