In my last posting on whether is it time to buy into Industrial REIT, I have illustrated the poor rental charges of industrial properties using the JTC indexes from 2016 to 2018. All industrial property types pricing indexes with the exception of business parks have been in the doldrums. REITS with warehousing facilities such as Cache suffered the worst hit. The local warehousing space for logistics usage has not yet seen any significant recovery and prices still hover around S$1 per sqft in western Singapore relative to more than S$1.50 psf a few years back. The market climate remains challenging for industrial REIT due to the upcoming ready available supply of new industrial space. I do not think that there are any hidden gems right now given the current operating environment and the recent run-up in most REITs pricing. The worrying global macroeconomic conditions may also further adversely...