Singapore fourth most expensive global prime logistics market, says CBRE

By Tan Chee Yuen / The Edge Property | May 26, 2016 10:00 AM SGT
Singapore is the fourth most expensive global prime logistics market worldwide, with prime logistics rents of US$10.91 psf per annum, according to CBRE’s inaugural Global Prime Logistics Rents report. The report tracked the rents of prime logistics facilities in 69 global hubs in the Americas, Asia Pacific and Europe, the Middle East and Africa as at 4Q2015.
The top-ranked city with the highest prime logistics rent is Hong Kong, at US$28.94 psf per annum. This is followed by Tokyo (US$16.74 psf per annum) and London (US$16.36 psf per annum). Overall, six of the top 10 most expensive markets are cities from Asia-Pacific.
According to CBRE, prime logistics rents in global hub markets increased 2.8% y-o-y amid strong demand from supply chain users seeking modern distribution facilities to accommodate growing global trade and e-commerce activity.