Newmark：2025年第四季度新加坡工业租赁报告（英文版）

Singapore’s industrial leasing market remained resilient in 2025, though performance is becoming increasingly uneven. Multi-user factory rents rose 1.8% y-o-y in 4Q25, moderating amid a sharp rise in completions, while vacancies edged up as new supply is gradually absorbed. Business Park rents increased 2.6% y-o-y, supported by strong take-up at newer developments such as Punggol Digital District, although recent supply pushed vacancy slightly higher. Warehouse rents grew 3.0% y-o-y despite reco