Singapore strata industrial sales drop 21.8% to 319 transactions in Q1

This is the lowest sales figure since 2020.

According to a report from Savills, Singapore’s strata industrial sales activity remained lacklustre in Q1, falling at a faster pace of 21.8% QoQ to 319 transactions. 

This marked the lowest point since 2020 when the market was hit by the pandemic-led disruptions. 

Here’s more from Savills:

Despite the muted appetite in the strata sales market, there is a healthy interest for industrial properties among investors and end-users, which in turn helped to improve the overall market sentiments. 

In Q1/2024, median prices for multiple-user factory and warehouse increased by 9.1% and 6.3% QoQ respectively, reversing two quarters of decline. This is in line with the 0.5% QoQ increase in the JTC price index for multiple-user factory in the same quarter. Savills’ basket of industrial properties also showed prices rising across all tenure types in Q1. 

Prices for freehold and 60-year leasehold industrial properties increased at a faster rate at 2.2% to S$826 per sq ft and 1.6% QoQ to S$512 per sq ft respectively, while that for 30- year leasehold industrial properties inched up 0.3% QoQ to S$324 per sq ft in Q1.