40%+ annual growth needs some curbing.
The BBVA comment came as the Singapore government revealed that the price of factory space has rocketed 10% on a quarter-on-quarter basis in Q3.
Investors are rushing into commercial property as the government clamps down on residential sales, with industrial property prices particularly spiking and on course for growth of more than 40% this year.
This upward trend "could prompt similar curbs by the government to cool prices. It comes at a time when manufacturing output is weakening – it shrank 2.5% in September," said BBVA.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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