Chart of the day: Industrial property sales declines 30.2% in Q2

Multiple user factories remain the most popular for being affordable.

This chart from Knight Frank shows the sales performance of the industrial property market, with 2022 volumes slowing down.

Total transactions for the second quarter amounted to $661.5m, representing a decline of 4.9% quarter-on-quarter and 30.2% year-on-year.

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Multiple-user factory spaces, posing as one of the more affordable industrial assets, continued to register healthy levels of sales, bringing the average price to S$439 psf.

Knight Frank said that one of the main contributors to the demand for industrial space is the food industry, where occupiers are actively on the lookout for food factories and central kitchens in Singapore.