212 views

Occupancy rate industrial property market declined 89.4% in Q4 22

Prices and rentals increased even as the occupancy dropped.

The overall occupancy rate for the industrial property market went down to 89.4%, with new completions exceeding new demand, resulting in an increase in available stock.

In the JTC quarterly market report, prices and rentals have continued to rise despite the drop in occupancy. 

About 1.8 million square metres of new industrial space is projected to be finished in 2023, with single-user factory space making up the largest proportion with 49%, warehouse space taking up 28% whilst 23% comprising multiple-user factory and business park. 

In 2023, the economy will experience a slowdown and demand for industrial space will remain to grow. Prices and rentals may moderate as new supply comes on-stream.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!