Singapore leads Asia Pacific with a 10.8% YoY rise in logistics rents

Knight Frank attributed the growth to the nation's strong manufacturing.

Singapore reported the largest increase in logistics rents in Asia Pacific in H1 2024, with rents rising 6.7% HoH and 10.8% YoY.

Knight Frank stated that the H1 growth is the highest recorded in 10 years.

Knight Frank linked the growth to robust manufacturing in Singapore, where the Purchasing Managers' Index has expanded consecutively for 10 months.

"This strong performance is expected to continue, with forecasts projecting a 3% to 5% increase in prime logistics rents for 2024, as international manufacturers continue to view Singapore as an attractive location for their overseas operational expansion plans," Knight Frank said.

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