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Chart from EDMUND TIE
Surge in completions to slow industrial rent growth in 2024
In 4Q23, the rental index rose 1.7% QoQ.
Despite seeing sustained demand for industrial properties in 2024, experts predict that rents for these types of assets will moderate.
According to EDMUND TIE the surge in completions this year will slow industrial rental growth.
In 4Q23, the rental index rose 1.7% QoQ. For warehouses and first-storey multiple-user factories, rents grew 1.6% QoQ and 1.5% QoQ, respectively.
In 2024, EDMUND TIE said warehouses will continue to be a bright spot for the market, backed by e-commerce growth.
“Demand for hi-tech and multiple-user factory spaces is likely to be underpinned by the thriving advanced manufacturing ecosystem in Singapore due to the growing Industrial 4.0 momentum,” EDMUND TIE said.
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