Singapore leads Asia Pacific logistics rental growth amid regional moderation in H1 2024

Rental rates for logistics spaces in Asia Pacific have sustained their upward trend, according to Knight Frank in its Asia Pacific Logistics Markets report for first half 2024. However, this growth has occurred at a more moderate pace compared with previous periods.  

The region recorded an average year-on-year rental growth of 2.4 percent in first half 2024, marking a significant slowdown from the 6.2 percent increase observed in 2023.  

Singapore emerged as the standout performer in the region, with logistics rents increasing 6.7 percent from six months ago and 10.8 percent year-on-year, the highest growth recorded in 10 years.  

Singapore’s strong man