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C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
5.4
Rental Trends
Despite a slight fall in warehouse occupancy, median monthly gross rent for private multiple-user warehouse
remained stable YOY at $2.00 per sq ft (Figure 5.3).
Figure 5.3: Median Private Multiple-user Warehouse Rent
SINGAPORE INDUSTRIAL PROPERTY MARKET OVERVIEW
Source: URA, DTZ Consulting & Research, February 2016.
Note: Data is based on caveats lodged.
$ per sq ft
per month
2.40
2.20
2.00
1.80
1.60
1.40
1.20
1.00
Q1 2005
Q1 2009
Q1 2007
Q1 2011
Q4 2013
Q1 2006
Q1 2010
Q1 2008
Q1 2012
Q4 2014
Q3 2005
Q3 2009
Q3 2007
Q3 2011
Q2 2014
Q3 2006
Q3 2010
Q2 2013
Q3 2008
Q3 2012
Q2 2015
Q2 2005
Q2 2009
Q2 2007
Q2 2011
Q1 2014
Q2 2006
Q2 2010
Q1 2013
Q2 2008
Q2 2012
Q1 2015
Q4 2005
Q4 2009
Q4 2007
Q4 2011
Q3 2014
Q4 2006
Q4 2010
Q3 2013
Q4 2008
Q4 2012
Q3 2015
Source: URA, DTZ Consulting & Research, February 2016.
Note: Data is based on caveats lodged.
$ per sq ft
per month
800
700
600
500
400
300
200
100
0
Q1 2005
Q1 2009
Q1 2007
Q1 2011
Q4 2013
Q1 2006
Q1 2010
Q1 2008
Q1 2012
Q4 2014
Q3 2005
Q3 2009
Q3 2007
Q3 2011
Q2 2014
Q3 2006
Q3 2010
Q2 2013
Q3 2008
Q3 2012
Q2 2015
Q2 2005
Q2 2009
Q2 2007
Q2 2011
Q1 2014
Q2 2006
Q2 2010
Q1 2013
Q2 2008
Q2 2012
Q1 2015
Q4 2005
Q4 2009
Q4 2007
Q4 2011
Q3 2014
Q4 2015
Q4 2006
Q4 2010
Q3 2013
Q4 2008
Q4 2012
Q3 2015
5.5
Price Trends
The imposition of government measures (i.e. SSD) and policies (i.e. TDSR) in 2013 led to a slowdown in transactional
activities. As a result, median price for private multiple-user warehouse declined from $582 per sq ft in Q4 2014 to
the range of $520-$540 per sq ft in Q2 and Q3 2015 respectively. In Q4 2015, the median price was high at $676
per sq ft, however, only 11 caveats were lodged for Q4 2015 and this price is unlikely to represent the market at
large. Based on the caveats lodged, median prices rose by 16%, from $582 per sq ft in Q4 2014 to $676 per sq ft
in Q4 2015 (Figure 5.4).
Figure 5.4: Median Prices of Private Multiple-user Warehouse
