Chart of the Day: SG multiple-user factory space median rent stays at $1.73 for Q2

There were a total of 1,801 rental transactions in April and May 2021.

This chart from Knight Frank shows that the Singapore-wide median rent of multiple-user factory space went unchanged in the second quarter of 2021, hitting $1.73 per square foot per month just like in the preceding quarter.

However, the monthly data revealed an improvement in both rents and rental activity, mirroring the trends seen in the manufacturing sector at large.

As a result, there were a total of 1,801 rental transactions in April and May 2021, representing an increase of 43.7% year-on-year from the 1,253 rental transactions in the same period last year, and an increase of 15.2% from 1,564 transactions in January and February 2021.

“With an increasing urgency to fulfill orders from all over the world, producers of technological components were active in seeking expansion space in order to grow output,” the report said.

The multiple-user factory segment also showed some strong transactional activity totaling some $370 million, led by the $35.3 million sale of Lam Soon Industrial Building in May 2021.