# Singapore multiple-user factory rents expected to remain flat in 2026

- **Source:** Real Estate Asia
- **Published:** 2026-08-28T02:00:00.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/industrial/news/singapore-multiple-user-factory-rents-expected-remain-flat-in-2026
- **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets

## Featured rationale

This divergence signals a flight to modern logistics and newer, well-located factories, potentially increasing leasing pressure and landlord competition for older industrial properties.

## AI summary

Savills expects Singapore multiple-user factory rents to remain flat in 2026, while warehouse and logistics rents are forecast to grow by approximately 1%.

## Original article

Meanwhile, warehouse and logistics rents are forecast to grow by approximately 1%.

Singapore's industrial market is expected to remain stable through the rest of 2026, but cautious occupiers and softer leasing momentum are likely to limit rental growth, according to Savills.

The consultancy said global economic uncertainty and geopolitical tensions will continue to weigh on business sentiment in the near term. However, resilient regional trade flows, investment in advanced manufacturing and technology, and improving logistics activity should continue to support industrial demand across Asia.

In Singapore, manufacturing, wholesale trade, and transportation and storage are expected to underpin leasing activity. Savills nevertheless expects occupiers to remain cautious about expansion, resulting in more measured demand and rental growth.

Modern logistics facilities are expected to remain the strongest-performing segment, supported by occupiers' preference for efficient, well-connected and high-specification space. Savills expects warehouse and logistics rents to rise by approximately 1% in 2026, although cost considerations and a slower pace of expansion are likely to temper gains.

Factory demand is expected to remain concentrated in newer, well-located multiple-user developments, while older facilities face greater leasing pressure. In light of softer leasing momentum and heightened volatility in the first half, Savills has revised its outlook and now expects multiple-user factory rents to remain flat for the year.

The flight to quality is also expected to persist across business parks and high-specification industrial properties. Savills said demand from technology, life sciences, advanced manufacturing and business services occupiers should continue to support modern developments.

However, elevated vacancies in some older business park clusters and the gradual absorption of recently completed projects are likely to keep competition between landlords high.

Savills said the 4.6% year-on-year decline in industrial leasing volume recorded in the second quarter should be monitored as a potential early indication of softer demand across manufacturing and logistics. Overall, however, the consultancy expects Singapore's industrial market to remain supported by resilient underlying fundamentals through the remainder of 2026.

## Chinese translation

> Translation model: openai_codex_cli

### 新加坡多用户厂房租金预计在2026年保持平稳

新加坡工业市场预计将在2026年剩余时间内保持稳定，但租户态度谨慎及租赁势头趋软，可能限制租金

与此同时，仓储与物流租金预计将增长约1%。

根据 Savills 的说法，新加坡工业市场预计将在2026年剩余时间内保持稳定，但租户态度谨慎及租赁势头趋软，可能限制租金增长。

该咨询公司表示，全球经济不确定性和地缘政治紧张局势将在短期内继续拖累商业信心。不过，具韧性的区域贸易流动、对先进制造业和科技的投资，以及改善中的物流活动，应会继续支撑亚洲各地的工业需求。

在新加坡，制造业、批发贸易以及运输与仓储预计将支撑租赁活动。尽管如此，Savills 预计租户在扩张方面仍会保持谨慎，导致需求和租金增长更为温和。

现代物流设施预计仍将是表现最强劲的细分市场，受租户偏好高效、连接便利且高规格空间的支撑。Savills 预计仓储与物流租金将在2026年上涨约1%，尽管成本考量和较慢的扩张步伐可能会抑制涨幅。

厂房需求预计将继续集中在较新、位置优越的多用户项目，而较旧设施将面临更大的租赁压力。鉴于上半年租赁势头趋软且波动性加剧，Savills 已修订其展望，目前预计多用户厂房租金全年将保持平稳。

追求优质资产的趋势预计也将在商业园区和高规格工业物业中持续。Savills 表示，来自科技、生命科学、先进制造业和商业服务租户的需求，应会继续支撑现代化项目。

不过，部分较旧商业园区集群的空置率较高，以及近期完工项目的逐步消化，可能使业主之间的竞争维持在高位。

Savills 表示，第二季度录得的工业租赁量同比下降4.6%，应作为制造业和物流需求趋软的潜在早期迹象加以关注。不过总体而言，该咨询公司预计，在2026年剩余时间内，新加坡工业市场仍将受到具韧性的基础面支撑。