Logistics rents climb 8% YoY in 2H23

Singapore had the sixth-highest rent growth in APAC.

Logistics rents in Singapore increased 8.0% YoY and 3.8% HoH in 2H23, data from Knight Frank showed.

In APAC, Singapore ranked sixth amongst markets with the highest rent growths.

In the next 12 months, Knight Frank predicts further growth in logistics rents in Singapore.

" Supply of logistics space will remain considerable in 2024 due to an ample development pipeline and growing sublease availability. 
However, its impact will be uneven across the region. Strong pre-commitments in Pacific markets are keeping vacancies tight while Southeast Asia and India will continue to benefit from supply chain diversification,” said Christine Li, head of research, Asia-Pacific for Knight Frank.