Industrial Property Prices In Singapore Continue To Rise.

Online, September 1, 2012 (Newswire.com) - Singapore' industrial property market is showing sizzling activity. The market has seen prices defy gravity in the second quarter of this year, shooting up to 8.4 per cent.

This 8.4 per cent rise comes on the back of another sharp 7.3 per cent rise in the first quarter of this year, while other property market sector slows.

Overall industrial prices have risen by about 48 per cent since the beginning of 2011. Demand is largely driven by economic expansion.

The rent of industrial properties are also rising in tandem. In the second quarter of 2012, industrial property rent were up 2.8 per cent. This comes on top of the 1.8 per cent rise in the first quarter of 2012.

The sizzling property activity is certainly in the industrial sector with some eye-watering prices being recorded. Prices are been pushed upwards as new high tech firms enter the market. In addition, existing occupiers of industrial estates like Defu which are due to be redeveloped are also seeking out alternative industrial properties.

The low interest rate environment and the slew of cooling measures on residential property market are also factors which drove investors to the industrial properties.

The government is increasing the supply of industrial sites and also reducing the lease terms for new land sales for industrial sites. New land sales since December last year were capped at 30 years lease. This move has also driven freehold industrial sites to record prices because of their rarity.

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