Prices increased by 1.2% during the quarter.
Singapore’s industrial property market continued to record firm price growth in Q1 2026, with values rising for the eighth consecutive quarter, according to CBRE.
Based on the JTC All-Industrial Price Index, prices increased by 1.2% quarter-on-quarter, moderating slightly from the 1.4% growth seen in Q4 2025. CBRE notes that this marks the eighth straight quarter in which price growth has outpaced rental growth, supported by sustained investor demand for industrial assets.
The consultancy highlights that domestic financing conditions remain supportive, with the 3-month SORA declining to 1.04% as of 23 April 2026, compared to 1.19% at end-2025. Against a backdrop of geopolitical uncertainty, investors continue to favour leasehold industrial assets for their stable income profile and positive carry.
By segment, multi-user factory prices rose 1.7% quarter-on-quarter in Q1 2026, slightly easing from 1.9% in the previous quarter. In contrast, single-user factory prices continued to decline marginally by 0.1%, although this was an improvement from the 0.3% drop recorded in Q4 2025.
CBRE also notes a development pipeline of around 8.0 million sq ft of new industrial space scheduled for completion over the next three quarters of 2026, representing about 1.4% of total stock. The single-user factory segment accounts for the majority of upcoming supply at 60.5%, followed by warehouses at 30.1%, multi-user factories at 6.1%, and business parks at 3.3%.
In the business park segment, only one major project is in the pipeline over the next three years, the 27 IBP development, scheduled for completion in Q2 2026. CBRE adds that ongoing asset enhancement initiatives across older facilities could further tighten effective supply in the segment.
Overall, CBRE concludes that Singapore’s industrial market remains underpinned by strong investor demand, even as price growth begins to moderate and new supply gradually enters the market.