Chart of the Day: Multi-user factory deals dropped 37.6% in Q1
This comes on the back of manufacturing firms halting expansions.
This chart from Knight Frank shows that the number of tenancies of multi-user factories crashed 37.6% QoQ to 1,223 transactions in Q1.
It is said to be the highest quarterly decline since Q4 2002, when business sentiments dropped from plummeting oil prices. Simultaneously, the drop in rental transactions could be attributed to economic instabilities that have resulted in manufacturing firms halting their expansion plans.
Meanwhile, the report added that median rents of multi-user factories remained flat in the same quarter.