Asia Pacific was the most robust region in the world last year in terms of warehouse leasing performance, with Tokyo, Hong Kong and Singapore ranking in the top 10 most expensive warehouse rents, according to a Colliers International survey of global industrial rents.
As global economies get back on track, Tokyo took the top spot at US$21.76 per sq ft per year and London-Heathrow ranked the second at US$20.70 per sq ft per year.
Meanwhile, Oslo, Hong Kong and Geneva registered an increase in warehouse rents and were ranked third to fifth in the world, according to the report, which features 139 industrial markets worldwide. The rankings remained unchanged compared to a year ago. The outlook in Hong Kong is positive this year.
'In view of the sustained recovery in the total value of re-exports and better-than-anticipated growth in the intra-regional trade flows, industrialists' attitudes have changed from cautious to optimistic,' said Simon Lo, director of research and advisory at Colliers International Hong Kong.
According to Colliers' research, factory rentals and prices in Hong Kong are projected to rise 8 per cent and 15 per cent, respectively, in the next 12 months.
'In 2010, demand is anticipated to be underpinned by large logistics companies. Among different types of industrial properties, prime logistics centres are expected to see strong performance,' said Wayal Chiu, director of industrial at Colliers International Hong Kong.