Singapore ranks fourth in warehouse rent in 2011

It is also named as the sixth most expensive bulk warehouse space globally at US$13.33 per sq ft.

Singapore has ascended to the fourth spot in the global warehouse rent for 2011 displacing Zurich and Geneva. It is the highest position recorded by the country since 2009.

In a report by Colliers International, the country recorded its prime warehouse rents at 1.2% to US$18.79 per sq ft per annum (or by 6.8% to S$2.03 per sq ft per month in local currency terms) in the six-month period from July 2011 to December 2011. This is noticeably slower than the 18.2% (or 12.4% in local currency terms) recorded in 1H 2011.

Tokyo tops the list at US23.14 per rent followed by London-Heathrow at US$20.96 and Hong Kong at US20.55. Other cities include are Zurich, Moscow, Oslo, Geneva, San Paulo, Marseilles and Paris.

The rental gap between Singapore and Hong Kong on the other hand widened from 2.1% in 1H 2011 to 8.6% in 2H 2011. This is due mainly to the stronger escalation in Hong Kong’s prime warehouse rents during this period.

Colliers also cited Singapore as the sixth most expensive bulk warehouse space globally at US$13.33 per sq ft per annum (S$1.44 per sq ft per month in local currency terms) in 2H 2011 joining Tokyo, London, Hong Kong, Zurich and Moscow in the list.