JTC Quarterly Market Report
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Our Key Services Include:
Our key services include:
We specialize in crafting compelling proposals and business plans to secure approvals for the assignment or purchase of JTC properties and industrial land. Our expertise ensures a streamlined process for your JTC lease assignment applications. We assist clients in preparing successful proposals and business plans to obtain approval for the JTC Lease Assignment or purchase of JTC property and industrial land.
Benefit from our in-depth guidance on developing successful proposals and business plans for direct purchases from JTC during the Standard Factories Launch and Tender Application period.
Our team excels in the preparation, analysis, and submission of bids for JTC Industrial Land under the Industrial Government Land Sales Programme (IGLS), enhancing your chances of success.
We provide strategic assistance to navigate the complexities of JTC lease renewals and extensions, ensuring your proposals align with JTC requirements for a smooth approval process.
We aid clients in successfully applying for the JTC Third-Party Build and Lease Scheme, leveraging our comprehensive understanding of JTC’s criteria and processes.
Our services empower clients to achieve approved status as JTC Anchor Tenants for industrial properties through meticulous preparation and presentation of applications.
Navigate the JTC factory application process with our expert guidance on both concept and pricing strategies to enhance your proposal's impact and effectiveness.
We offer consulting services for the optimization and construction of JTC factories, ensuring your facilities meet both operational needs and JTC standards.
Stay informed with our market research reports, providing current statistics, historical data, and insightful analyses based on JTC’s Quarterly Market Report. These comprehensive reports help you understand market trends and make informed decisions.
Keep up-to-date with our quarterly reports on Singapore’s economic performance. The next update is scheduled for the third week of May 2024, offering fresh insights and forecasts.
JTC Quarterly Market Report - Alliance Facilities Management Pte Ltd
Alliance Facilities Management Pte Ltd is a premier professional consultancy firm based in Singapore, offering a comprehensive suite of services to clients in the industrial property sector. Catering primarily to multinational corporations and small and medium-sized enterprises looking to expand their operations in Singapore, our team of experienced professionals is dedicated to guiding OUR CLIENTS through the complex process of navigating various industry property requirements, applications and business plan justifications to the authorities for approval. With our wide range of services, industry knowledge, and customer-centric approach, we are committed to providing an exceptional experience and delivering the best outcomes for our clients.
JTC Industrial Market Report 2024
Frequently Asked Questions (FAQs) - These FAQs provide a comprehensive overview and insights into various aspects of the industrial property market as detailed in the JTC Quarterly Market Report for 1Q 2024.
Question: What are the key insights from the JTC Quarterly Market Report for 1Q 2024?
Answer: The JTC Quarterly Market Report for 1Q 2024 provides several key insights:
The overall occupancy rate of industrial properties fell by 0.3 percentage points quarter-on-quarter to 88.7%.
The price index for all industrial spaces declined by 0.2% quarter-on-quarter, the first decrease since 3Q 2020.
The rental index for all industrial spaces increased by 1.7% quarter-on-quarter.
Approximately 1.6 million sqm of new industrial space is expected to be completed in the next three quarters of 2024.
Question: What was the overall occupancy rate of the industrial property market in 1Q 2024?
Answer: The overall occupancy rate for the industrial property market was 88.7% in 1Q 2024, a decline of 0.3 percentage points from the previous quarter. Compared to the previous year, the occupancy rate decreased by 0.1 percentage points.
Question: How did the stock of industrial space change in 1Q 2024 compared to previous quarters?
Answer: In 1Q 2024, the total available stock of industrial space rose by 0.7 million sqm, while the total occupied stock increased by 0.6 million sqm over the past year.
Question: What were the trends in the rental index for industrial spaces in 1Q 2024?
Answer: The rental index for all industrial spaces rose by 1.7% compared to the previous quarter and by 7.8% compared to the previous year. The transaction volume of industrial space rentals decreased by 9% compared to the previous year.
Question: How did the price index of industrial space change in 1Q 2024 compared to previous quarters?
Answer: In 1Q 2024, the price index for all industrial space declined by 0.2% compared to the previous quarter, marking the first decrease since 3Q 2020. However, on a year-on-year basis, the price index increased by 3.3%.
Question: Were there any significant Industrial Government Land Sales (IGLS) transactions in 1Q 2024?
Answer: Yes, significant IGLS transactions included:
Plot 8 Jalan Papan: A site targeted for single-user development that attracted one bid.
Tuas Link Close: A site targeted for multiple-user development that attracted three bids and was successfully awarded.
Question: How did JTC allocate its Ready-Built Facilities (RBF) in 1Q 2024?
Answer: In 1Q 2024, JTC allocated a total of 44,700 sqm of RBF space to industrialists:
25,900 sqm of high-rise space
13,200 sqm of land-based factory space
RBF returns totalled 67,300 sqm, with 41,200 sqm of high-rise space and 18,800 sqm of land-based factory space.
Question: What is the forecast for industrial space supply for the next three quarters of 2024?
Answer: Approximately 1.6 million sqm of industrial space is expected to be completed in the next three quarters of 2024:
61% will be single-user factory space.
21% will be business parks.
14% will be warehouses.
4% will be multiple-user factory spaces
Question: How does the transaction volume of industrial properties in 1Q 2024 compare to previous quarters?
Answer: In 1Q 2024, the transaction volume of industrial properties, based on caveats lodged, fell by 2% compared to the previous year.
Question: What is the total available stock of industrial properties as of 1Q 2024?
Answer: As of 1Q 2024, the total available stock of industrial properties was 53.0 million sqm.
Question: How did the price and rental indices of different types of industrial space change in 1Q 2024?
Answer:
Multiple-User Factory: Price index increased by 0.5% quarter-on-quarter and 4.6% year-on-year.
Single-User Factory: Price index decreased by 1.0% quarter-on-quarter but increased by 1.8% year-on-year.
Warehouse: Rental index increased by 2.0% quarter-on-quarter and 7.5% year-on-year.
Question: What is the occupancy rate for multiple-user factory spaces in 1Q 2024?
Answer: The occupancy rate for multiple-user factory spaces in 1Q 2024 was 90.5%, unchanged from the previous quarter.
Question: What is the occupancy rate for single-user factory spaces in 1Q 2024?
Answer: The occupancy rate for single-user factory spaces in 1Q 2024 was 87.8%, down by 0.2 percentage points from the previous quarter.
Question: What is the occupancy rate for business parks in 1Q 2024?
Answer: The occupancy rate for business parks in 1Q 2024 was 78.0%, down by 0.4 percentage points from the previous quarter.
Question: What is the occupancy rate for warehouse spaces in 1Q 2024?
Answer: The occupancy rate for warehouse spaces in 1Q 2024 was 91.1%, down by 0.5 percentage points from the previous quarter.
Question: How did the rental index for business parks change in 1Q 2024?
Answer: The rental index for business parks increased by 2.1% quarter-on-quarter and by 5.0% year-on-year in 1Q 2024.
Question: What is the expected annual supply of industrial space from 2024 to 2026?
Answer: The expected annual supply of industrial space from 2024 to 2026 is approximately 1.2 million sqm, higher than the average annual supply of 1.0 million sqm over the past three years.
Question: How does the price index of industrial properties compare historically to previous years?
Answer: The price index for all industrial spaces in 1Q 2024 is at 102.7, down from 102.9 in 4Q 2023 but up from 99.4 in 1Q 2023.
Question: How do rental trends differ across planning regions in 1Q 2024?
Answer:
Central Region: Increased by 1.5% quarter-on-quarter.
North Region: Increased by 3.3% quarter-on-quarter.
West Region: Increased by 0.5% quarter-on-quarter.
East Region: Decreased by 0.5% quarter-on-quarter.
Northeast Region: Increased by 1.9% quarter-on-quarter.
Question: What is the forecast for the industrial space supply for 2025 and 2026?
Answer:
2025: An estimated 1.0 million sqm of new industrial space.
2026: An additional 0.6 million sqm of new industrial space.
Question: What types of industrial spaces have the highest demand as of 1Q 2024?
Answer: High demand has been observed for multiple-user factory spaces and warehouses due to their versatility for various industrialists.
Question: How does the industrial space supply breakdown by zoning?
Answer:
Business 1 (B1): 138,000 sqm available.
Business 2 (B2): 3.46 million sqm available.
Business Park: 371,000 sqm available.
Question: What are the vacancy rates for different types of industrial properties as of 1Q 2024?
Answer:
Multiple-User Factories: 9.5%
Single-User Factories: 12.2%
Business Parks: 22.0%
Warehouses: 8.9%
Question: How has the total industrial space available changed over the last quarter?
Answer: The total available industrial space increased slightly from 52,872 thousand sqm in 4Q 2023 to 52,998 thousand sqm in 1Q 2024.
Quarterly JTC Industrial Properties Market Report - 1st Quarter 2017 to 1st Quarter 2024
JTC Industrial Market Report 2023
JTC Industrial Property – Market Research Reports
Statistics on Historical Data of JTC Industrial Land Sold from 2017 to 2024
Statistics on Historical Data of JTC Industrial Land Sold from 2014 to 2016
JTC Quarterly Market Report - 1st Quarter 2024 - Frequently Asked Questions (FAQs)
Historical Data of Industrial Properties Caveats Lodged from 2022 to 2024
Historical Data of Industrial Properties Caveats Lodged from 2020 to 2021
Historical Data of Industrial Properties Caveats Lodged from 2018 to 2019
Historical Data of Industrial Properties Caveats Lodged from 2016 to 2017
Historical Data of Industrial Properties Caveats Lodged from 2010 to 2015
Historical Data of Industrial Properties Caveats Lodged from 2000 to 2009
The Information Listed Above Is To Be Used As A Reference Only.
The information listed above is to be used as a reference resource for your personal consumption only. It is not intended to be and does not constitute financial advice, investment advice or any other advice, All applications are subject to final approval by JTC at JTC's discretion (including any terms and conditions that JTC may in its discretion impose with such final approval). While every endeavour has been made to ensure that the information provided herein is correct, ALLIANCE FACILITIES MANAGEMENT PTE LTD disclaims liability for any damage or loss that may be caused as a result of any error or omission.
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