SINGAPORE - Rents and prices of industrial space continued to fall in the third quarter of 2020, latest data from industrial land and infrastructure agency JTC Corp shows.Prices slipped 2.2 per cent quarter on quarter and 3.9 per cent year on year.
In the third quarter, due to the impact of Covid-19 on the construction sector, only 24,000 square metres of new industrial space was completed, the lowest quarterly completion on record and a significant reduction from the average quarterly completion of around 270,000 sq m in the past three years.
Completion of 0.7 million sq m of new industrial space has been delayed to 2021 and 2022 due to the impact of Covid-19 on the construction sector.
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