Rental and price growths for factories are likely to slow amidst softer demand and leasing activity, Colliers reported.
Demand for multiple-user factories also grew, albeit slower, as most tenants opted for smaller spaces under 10,000 square feet.“There is a surge of supply coming on stream in 2024 though these are typically developed by the industrialists for their own use,” Colliers said....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
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Industrial space rentals climb 1.7% QoQ in 1Q24pstrongYear-on-year, it rose 7.8%./strong/p pThe rental index of all industrial space rose 1.7% QoQ and 7.8% YoY in 1Q24, data from JTC showed./p pAll industrial assets also reported a rental index increase, led by multiple-user factories, which saw an 8.9% YoY increase.
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Auction listings drop 9.1% QoQ in 1Q24pstrongThere were 90 listings in the first quarter of 2024./strong/p pThe first quarter of 2024 saw 90 auction listings, a 9.1% QoQ drop. Year-on-year, however, auction listings climbed 16.9%./p pThe 1Q24 figure includes repeat listings but excludes properties sold outside of auctions.
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Mortgagee listings fall 29% QoQ to 22 in 1Q24pstrongThe residential sector accounted for the majority of the listings/strong/p pMortgagee listings dropped 29.0% to 22 in 1Q24, data from Knight Frank showed. Year-on-year, listings fell by two.
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Owner listings up 3.0% QoQ in 1Q24pstrongYear-on-year, listings were 47.8% higher./strong/p pOwner listings slightly rose in 1Q24, rising 3.0% to 68 from 66 in the previous quarter./p pYear-on-year, the number of listings was 47.8% higher./p pKnight Frank said the number of owner listings exceeded mortgagee listings for the eighth consecutive quarter.
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Anti-money laundering bust affects shophouse salespstrongIn 1Q24, shophouse deals rose 31% QoQ but fell 34% YoY./strong/p pThe shophouse market expanded by 31% QoQ but declined by 34% YoY in 1Q24, PropNex reported.
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Investment volume drops 34.7% YoY to $4b in 1Q24pstrongGLS tenders played a significant role in the investment volume./strong/p pInvestment volume hit fell 34.7% YoY to $4.0b in 1Q24, Colliers reported./p pThe investment volume also fell across segments, with the commercial sector posting the largest decline of 52.7% QoQ.
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