CBRE: Logistics rents in Singapore down 9% in 2016
In its Asia Pacific Market Outlook 2016, CBRE highlighted how growth in rents on prime logistics property across the region will likely slow in 2016. CBRE noted that it is looking for rents on prime logistics property in Singapore to fall by 9% in 2016. In 2015, such rents fell by 4%. Singapore is, by this measure, likely to be the worst performing logistics market in the region in 2016 and was one of the laggards in 2015. Supply of new prime logistics space in Singapore over 2016 and 2017 is expected to amount to 8 million square feet. Over the five years to the end of 2015, an average of about 3.5 million square feet of prime logistics space became available each year.
Source : CBRE/ February 2016/Singapore/IND