Chart of the Day: Business park rents went up 0.6% in Q1

It deaccelerated from a 1% increase in the fourth quarter of 2022.

The rents of the business park went up 0.6%, which is a downgrade from the previous quarter’s 1% increase.

This chart from Colliers showed that vacancies in city-fringe business parks remain tighter, but their occupancies are easing as well. This leads to island-wide occupancy declining by 1.2 percentage points.

“Rental growth and occupancies may continue to ease as more supply comes on stream, coupled with slowing demand and economic growth,” Colliers said.

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