Slowdown in industrial property sector

Slowdown in industrial property sector, reports DTZ and SLP
DTZ and SLP International Property Consultants report that industrial rental growth rates have slowed down in Q3. This is likely to continue as the Europe and US faces financial problems. The average rent for both hi-tech industrial properties and upper-storey private industrial space remained unchanged at $3.45 per sq ft. and $1.75 per sq ft per month respectively. It is believed that rents may go down, given the decrease in manufacturing output of 4.7% month-on-month and 10.5% year-on-year and upcoming completion of 19.8 million sq ft of private industrial space.
There are also fewer and lower bids for industrial land available in Q3.

(SG industrial REIT)