Industrial space rentals climb 1.7% QoQ in 1Q24
Year-on-year, it rose 7.8%.
The rental index of all industrial space rose 1.7% QoQ and 7.8% YoY in 1Q24, data from JTC showed.
All industrial assets also reported a rental index increase, led by multiple-user factories, which saw an 8.9% YoY increase. On a QoQ comparison, however, multiple-user factories had the smallest increase at 1.3%.
Single-user factories (6.1% YoY) and Business Park (5.0% YoY) posted the highest QoQ increase amongst asset types, both at 2.1%, followed by warehouse (2.0% QoQ; 7.5% YoY).
READ MORE: Industrial occupancy dips to 88.7% in 1Q24