SINGAPORE INDUSTRIAL PROPERTY MARKET OVERVIEW
4.3 RENTS
Data from URA’s Real Estate Information System (“REALIS”), which is based on actual rental transaction records,
showed themedian gross monthly rent
16
of factory space (including business park) fell for the second consecutive
year, by 1.0% YoY, to S$1.98 per sq ft in 2014 albeit less than 2013's 3.8% YoY drop. This came on the back of
supply pressures and heightened competition for qualifying industrial tenants.
MEDIAN RENTS FOR FACTORY (INCLUDING BUSINESS PARK) SPACE
16 Median rents are dependent on the number of transactions that occur during the quarter. This in turn depends on factors such as the location and
age of the building as well as the type, floor level and size of the unit.
2004
2008
2006
2010
2012
2005
2009
2007
2011
2013 2014
4Q13 1Q14 2Q14 3Q14 4Q14
0.00
0.50
1.00
2.50
1.50
2.00
S$ per sq ft per month
Statistical Range of Monthly Rents of Islandwide Factory Space
Period
Minimum
(per sq ft)
25th Percentile
(per sq ft)
Median
(per sq ft)
75th Percentile
(per sq ft)
Maximum
(per sq ft)
Islandwide Factory Space (All Types)
4Q 2013
S$0.54
S$1.64
S$2.00
S$2.69
S$10.22
1Q 2014
S$0.47
S$1.68
S$2.06
S$2.69
S$10.65
2Q 2014
S$0.64
S$1.65
S$2.01
S$2.58
S$6.40
3Q 2014
S$0.74
S$1.68
S$1.97
S$2.51
S$5.60
4Q 2014
S$0.87
S$1.68
S$1.98
S$2.46
S$6.10
Multi-user Factory
4Q 2013
S$0.71
S$1.63
S$1.98
S$2.55
S$10.22
1Q 2014
S$0.62
S$1.66
S$2.00
S$2.48
S$9.29
2Q 2014
S$0.89
S$1.64
S$1.98
S$2.43
S$4.95
3Q 2014
S$0.90
S$1.66
S$1.91
S$2.40
S$5.00
4Q 2014
S$0.87
S$1.69
S$1.98
S$2.40
S$5.35
Single-user Factory
4Q 2013
S$0.54
S$1.60
S$2.09
S$3.01
S$6.71
1Q 2014
S$0.47
S$1.64
S$2.10
S$3.11
S$10.65
2Q 2014
S$0.64
S$1.60
S$2.00
S$2.73
S$4.86
3Q 2014
S$0.74
S$1.62
S$2.05
S$2.73
S$4.62
4Q 2014
S$1.00
S$1.42
S$1.61
S$1.97
S$3.30
Source: URA REALIS/Colliers International Singapore Research
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CAMBRIDGE INDUSTRIAL TRUST | ANNUAL REPORT 2014
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