Singapore is one of the 17 APAC cities that recorded increasing rents.
The Lion City’s prime logistics rents went up in the second half (H2) of 2022 along with other cities in the APAC region, Knight Frank said.
In a study, Knight Frank said the overall rental growth for the logistics market in APAC went up 0.6% in H2 2022.
Only Bangkok reported a decrease in rents, which slightly dipped 0.1%.
In comparison, Australasia continued to outperform APAC markets, registering a strong performance at an average yearly and half-yearly growth rate 20.5% and 12.9%, respectively.