Occupiers of S'pore, HK prime logistics space face cost challenge
Occupancy cost growth expected to cross 3% a year, against 2.4% for rest of Asia-Pacific
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Mindy Tan
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Singapore
OCCUPIERS of prime logistics space in Singapore and Hong Kong will face the biggest challenge in terms of cost growth, with occupancy cost growth expected to exceed 3 per cent per annum, compared with an average annual uplift of 2.4 per cent to 2018 for the rest of Asia-Pacific.
"Cyclical and structural changes to the world economy are changing global cost competitiveness. Occupiers in Asia Pacific will continue to face the highest occupancy cost increases," said Richard Yorke, global head of occupier research at DTZ.
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