Industrial and logistics proved the most resilient asset class in Asia Pacific during third quarter 2021, underpinned by strong demand for safety stock to guard against supply-chain disruptions and growing omnichannel requirements, according to CBRE.
Despite ongoing supply-chain issues, third quarter 2021 net absorption in the logistics sector reached a record high of 27.4 million square feet, driving vacancy below 3 percent in most Asia Pacific markets. Online retailers and third-party logistics companies preparing for heightened year-end sales provided the impetus for leasing demand.
CBRE’s Asia Pacific Logistics Rental Index has recorded 0.9 percent quarter-over-quarter (QOQ) and 2.5 percent year-to-date (YTD) growth as of third quarter 2021. Outperforming markets included Sydney (3.5 percent QOQ), Singapore (1.4 percent QOQ), Hong Kong SAR (1 percent QOQ), Melbourne (0.9 percent QOQ) and Shenzhen (0.8 percent QOQ). Rents are expected to rise further in coming qua
