Singapore beats Hong Kong in warehouse rental growth

Hong Kong's 10.81% rental hike was surpassed by Singapore's 12.4%.

According to Colliers International, while Hong Kong’s warehouse saw double-digit rental growth at 10.81 per cent (in local currency terms) during the six-month period ending June 2011, the rental hike for Singapore’s warehouse surpassed that at 12.4 per cent.

As a result, the rental gap between Singapore’s and Hong Kong’s warehouse space narrowed further from 17.7 per cent in 1H 2010 to 8 per cent in 2H 2010, to just 2.1 per cent in 1H 2011.

Notably, within the Asia-Pacific region, Beijing saw the highest rental growth at 21.89 per cent in 1H 2011. Ho Chi Minh City’s warehouses, on the other hand, recorded the highest rental contraction within the region at -15 per cent.