planMultiple-user factory price index rose faster in Q3 2026
Both factory indices increased from Q2. The official figures offer price context; a purchase still needs property-level checks on use, tenure and completed sales.
Singapore’s Multiple-User Factory price index rose 1.1% in Q3 2026, compared with a 0.8% increase for Single-User Factory. Both moved higher from Q2, while the All Industrial index increased 1.0%, according to the official JTC series published through SingStat. These percentages are calculated from the published quarterly index levels.
For someone considering an industrial purchase, the useful distinction is modest but clear: multiple-user factories recorded the faster aggregate price increase over these two quarters. Choosing a particular property, however, requires a different comparison—one built around its intended use, remaining lease and relevant completed sales, rather than the category’s index alone.
What changed between Q2 and Q3
The same-quarter comparison puts all three series on a consistent footing. Each percentage below uses its own Q2 2026 level as the starting point; index-point changes and percentage changes are shown separately.
| Official series | Q2 2026 index | Q3 2026 index | Change in index points | Calculated quarterly change |
|---|---|---|---|---|
| All Industrial | 113.8 | 114.9 | +1.1 | +1.0% |
| Multiple-User Factory | 123.0 | 124.4 | +1.4 | +1.1% |
| Single-User Factory | 95.1 | 95.9 | +0.8 | +0.8% |
Source figures and calculations: JTC/SingStat, Q2 and Q3 2026 observations. Percentage changes are rounded to one decimal place.
For example, the Multiple-User Factory calculation is `(124.4 − 123.0) ÷ 123.0 × 100`, giving approximately 1.14%. The equivalent Single-User Factory increase is approximately 0.84%. The difference between those unrounded growth rates is therefore about 0.3 percentage point, rather than the 0.6-point difference between their index-point increases.
That answers the narrow question of which series increased faster. It does not rank the merits of two buildings offered for sale.
What the index actually measures
The official table uses fourth quarter 2012 = 100 as its base. Its methodology states that, from fourth quarter 2014, the price index is computed from island-wide transactions of multiple-user and single-user factories. Both quarters examined here fall within that stated coverage period.
An index is a reference scale for tracking price movement, not a dollar price. Consequently, a Multiple-User Factory reading of 124.4 and a Single-User Factory reading of 95.9 should not be read as evidence that one category costs a particular percentage more per square foot. The useful calculation compares each series with its own earlier reading.
The All Industrial increase also should not be reconstructed by simply averaging the two factory growth rates. The retained methodology passage does not provide aggregation weights, so this analysis uses the published aggregate rather than estimating how much each factory category contributed.
There is a timing distinction too. The captured table records an update on 22 October 2026; it does not separately identify the initial publication date. This is a retrospective comparison of its Q2 and Q3 observations, not a claim that the figures have just been released.
Before comparing prices, verify the property
For an acquisition, our suggested starting point is the business activity: what exactly must happen inside the premises? Ask for the documents establishing the approved use and applicable conditions, then check the proposed activity against them. Treat a listing description as a prompt for verification, not the approval itself.
Make that enquiry specific. Describe the intended processes, equipment, storage and servicing arrangements rather than asking only whether the premises are “suitable for industrial use”. Where a condition is unclear, seek written clarification from the relevant authority or lessor before relying on it.
Next, establish the lease commencement and expiry dates from the property documents. Calculate the remaining tenure at the intended purchase date, and keep any proposed extension separate from the existing term. A comparison sheet should show what is documented today, rather than quietly incorporating an assumed renewal.
These are recommended checks, not findings about any property in the index. The supplied statistical table establishes aggregate price movements; it does not provide property-level approvals or lease documents.
Build a comparison that can answer the asking price
Once those documents are available, assemble a shortlist of completed sales, keeping asking prices in a separate column. Record the transaction date, factory type, location, floor area, tenure and remaining lease for each candidate comparison. Add the physical specifications that matter to the intended operation, such as loading arrangements and access.
The aim is not to find the largest pile of transactions. It is to identify which transactions genuinely help assess the property under consideration. Where a comparison differs materially, state the difference instead of presenting its price as a direct benchmark. If sufficiently matched evidence is unavailable, leave the valuation question open rather than filling the gap with the broad index.
The Q3 result supplies a useful backdrop: both factory series increased, with Multiple-User Factory ahead by about 0.3 percentage point on quarterly growth. The next acquisition decision should turn on the specific premises—whether the intended activity is supported, how much documented tenure remains, and whether comparable completed sales support the price being asked.
