Chart of the Day: Leasing volume of multiple-user factories plunged 43.5% in Q2

This represented a total rental volume of $2.5m.

This chart from Knight Frank shows that the leasing volume of multiple-user factory spaces island-wide crashed 43.5% YoY in Q2, with the number of tenancies from April to May 2020 falling to 1,253.

This represented a total rental volume of $2.5m. Further, the median rent of these spaces island-wide maintained at $1.78 psf pm in Q2, unchanged from Q1 and from Q2 2019.

The circuit breaker, reduction in manpower as well as manufacturers putting off any expansion or relocation plans due to existing headwinds contributed to the lack of leasing activities.

Similarly, the median prices of multiple-user factory spaces generally recorded slight declines or remained flat in Q2. Whilst prices were generally stable in the second quarter, transaction volume fell from $168.6m to $62m between Q1 and Q2, due to the restriction of activities during the circuit breaker.