PRIME warehouse rents slipped in the first half of the year to push Singapore out of the 10 most expensive prime warehouse markets in the world.
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According to a Colliers International study, Singapore is now No 14, six rungs down from No 8 in a previous ranking covering the second half of 2008.
Prime warehouses here offering space of 20,000 square feet or more fetched an average rent of US$12.38 per square foot per year in first-half 2009.
Tokyo retained top spot with an average prime warehouse rent of US$22.18 psf per year – 79 per cent higher than in Singapore.
London Heathrow remained second with an average prime warehouse rent of US$20.64 psf per year.
Across the Asia-Pacific, Singapore is the fourth most expensive place to rent prime warehouse space – down one notch from the second half of 2008.
Tokyo, Hong Kong and Seoul occupied the top three spots.
As for bulk warehouses with space of 100,000 sq ft or more, Singapore is in 13th position, with rents averaging US$9.90 psf per year.
Across the Asia-Pacific, Singapore is the fourth most expensive place to rent prime warehouse space – down one notch from the second half of 2008.
Tokyo, Hong Kong and Seoul occupied the top three spots. Continue reading
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