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A rise in e-commerce sales contributed to the segment’s growth.
This chart from EDMUND TIE revealed that the occupancy rate for warehouse space grew 0.8ppt QoQ to 88.3% in Q2. Occupancies of single-user factory spaces climbed, whilst it declined for business parks. The figures for multiple-user factories held relatively steady.
The growth in the warehouse space was largely attributed to a rise in e-commerce sales and a trend of stockpiling by supermarkets. According to data from the Department of Statistics, online retail sales accounted for 18.1% of the total retail sales value.
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About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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