Warehouse rents in Asia-Pacific hold steady on e-commerce demand: Knight Frank

THE first half of 2020 largely turned out to be a "resilient" period for Asia-Pacific warehouse markets; and expectations are for this sector's rents in Singapore to remain stable till the rest of the year, according to research by property consultancy Knight Frank.

Prime warehouse rents in Singapore generally held steady in H1 2020, declining only 0.6 per cent to S$1.80 per square foot per month from H2 2019, Knight Frank said. This came despite economic activity grinding to a halt as a result of the April to June"circuit breaker" and the economy entering a recession during the same period.

The performance was supported not only from increased appetite for space from the e-commerce sector, but also the production and storage of essential commodities such as medical and hygiene related products, the report said. With only 4 per cent of existing stock slated for completion over 2020 and 2021, as well as half already pre-committed, Knight Frank expects prime warehouse rents in Singapore to hold steady till the end of the year.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warehouse rents in Asia-Pacific hold steady on e-commerce demand: Knight FrankSINGAPORE (THE BUSINESS TIMES) - The first half of 2020 largely turned out to be a 'resilient' period for Asia-Pacific warehouse markets; and expectations are for this sector's rents in Singapore to remain stable till the rest of the year, according to research by property consultancy Knight Frank.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

World Bank's IFC warns of Asia-Pacific 'financial crisis'[JAKARTA] The Asia-Pacific region risks a damaging financial crisis from a surge of non-performing loans caused by rising insolvencies, a senior official from the World Bank Group's private sector arm said on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Asia stocks defy Wall Street weakness but economy, US election worries cap gainsSINGAPORE (REUTERS) - Asian stocks inched up on Friday (Sept 18), despite Wall Street declines, but struggled to make deeper gains as worries about a faltering economic recovery kept investors to the sidelines or seeking safer harbour in assets such as the Japanese yen. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »