Singapore ranks amongst Asia’s priciest logistics real estate markets

This reflects its role as a regional trade centre..

Singapore remains amongst the most expensive logistics and industrial real estate markets in Asia Pacific (APAC), ranking in the top three alongside Hong Kong and Sydney at about $16.64 to $17.92 (US$13 to 14) per square foot per year, according to Cushman & Wakefield’s Waypoint 2026 report.

The report said Singapore’s high costs reflect its role as a regional trade centre supported by strong port infrastructure and logistics connectivity.

Wages for warehouse and production roles in Singapore are broadly in line with the global median, based on the report’s indexed comparison of mature APAC markets.

Electricity costs were slightly above the global median in Q4 2025, although they declined year on year (YoY) from 2024 to 2025 with Singapore remaining fully dependent on imported energy.

Demand for industrial and logistics space is expected to stay supported by high-tech occupiers over the next three years. Vacancy rates are projected to edge lower by 2029, driven by limited development and steady absorption.

Across APAC, conditions are diverging. Australia, Japan, and Singapore are seeing tighter supply and rising competition for space, whilst parts of China and India continue to offer higher availability due to ongoing development.

Globally, logistics markets are moving towards tighter conditions, with tenant-favourable markets expected to fall from 52% in 2026 to 33% by 2029.

Logistics rents are also 36% above 2020 levels, with 54% of markets expected to see further rental growth over the next three years.

The report also noted that Singapore’s consumer price index forecast for end-2026 has been revised up from about 1.2% to 1.6%, reflecting a modest increase in inflation expectations.

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