Industrial property prices rise in Q1

Prices of industrial properties were up 7.3 per cent in the first quarter of 2012, compared with 3.8% in the previous quarter.

Within this segment, property prices of multiple-user warehouse jumped 8.8 per cent, while property prices of multiple-user factory increased by 7.2 per cent.

Rentals of multiple-user factory space rose by 1.3 per cent in the first quarter, higher than the 0.6 per cent in the previous quarter.

The figures were released on Friday in the URA actual price index.

Prices of commercial properties in the first quarter of 2012 were flat from the previous quarter.

Prices of office properties remained unchanged from the last quarter of 2011, while prices of shops rose 0.2 per cent.

Office rentals also dipped by 0.5 per cent, lower than the 0.3 per cent increase in the first quarter of 2012.

URA said more office space from GLS sites sold by the government in 2011 will be in the pipeline.

This includes commercial sites at Robinson road/Cecil Street and Peck Seah Street/Choon Guan Street.

More supply of land is expected from the development of the six plots of land at Marina Bay and Ophir Road/ Rochor Road.

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