Warehouses in vogue amid stockpiling, surge in e-commerce

Singapore

WHILE most segments of the Singapore property market have been impacted negatively by the Covid-19 outbreak, leasing demand for warehouse space has been resilient in the past three months - on the back of national stockpiling efforts, and a surge in online shopping and e-commerce activity, among other factors.

The leases being signed are mostly short-term, ranging from six months to two years, said Brenda Ong, head of logistics and industrial at Cushman & Wakefield Singapore. "As vacancies tighten in warehouse buildings, some landlords have already started to raise asking rents," she told BT.