Asia Pacific’s logistics markets are entering a more complex phase, with divergence across the region increasingly shaping both occupier strategy and investor positioning, according to Cushman & Wakefield’s Waypoint 2026 report. Asia Pacific remains the most tenant‑favourable region globally, with 47 percent of markets favouring occupiers, up from 33 percent in 2025, although conditions vary significantly as supply and demand dynamics continue to diverge across markets.
The report reveals China’s industrial and logistics market is currently characterised by tenant-favourable conditions driven by abundant supply and softer occupier demand. Significant levels of vacant stock across China’s regional markets have reduced landlord pricing power, resulting in downward pressure on rents and heightened tenant leverage. Despite this, China remains cost-competitive globally — with relatively low rental and labour costs supporting its position as a major manufac
