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    APAC Self-Storage Space in Asia 2016

    APAC Major Report | May 2016

    Current Demand Analysis: CBRE conducted a bottom-up demand analysis of the current demand for self-storage in 2015 using the fundamental drivers of the Death, Divorce, Dislocation, Density and business activity. Using this analysis, CBRE has concluded that the self-storage market is not saturated and growing as predicted. At the end of 2015, there was an approximate shortfall of 200,000 sq.ft. of self-storage space in Hong Kong. Singapore’s demand and supply dynamics are roughly in equilibrium but the demographic drivers are still favorable for self-storage demand in the long run.

    • There was an estimated 3.4 million sq. ft. and 1.6 million sq. ft. of self-storage demand in 2015 in Hong Kong and Singapore, respectively.
    • In response to the demand, self-storage stock has increased greatly in Hong Kong (+20%) and Singapore (+11%) to 3.1 million sq. ft. and 1.6 million sq. ft. of rentable space, respectively.
    • However, this implies a shortfall of 200,000 sq. ft. of stock in Hong Kong in 2015 despite the strong increase in supply.
    • Singapore’s demand and supply dynamics are roughly in equilibrium but the demographic drivers are still favorable for self-storage demand in the long run.
    • Out of the four Ds, density was by far the biggest driver, both in Hong Kong and Singapore, responsible for 2.3 million sq. ft. of demand and 918,000 sq. ft. of demand, respectively. This was followed by dislocation, death and divorce.

    Infographic


    APAC Self-Storage Space in Asia 2016

    Contacts


    Henry Chin, Ph.D.
    Head of Research,
    Asia Pacific
    +852 2820 8160
    Email

    Dennis Yeo
    Managing Director, Asia
    Advisory & Transaction Services
    Industrial & Logistics
    +65 6328 1317
    Email

    Rosanna Tang
    Director
    CBRE Research,
    Asia Pacific
    +852 2820 2806
    Email

    Darren Benson
    Executive Director
    Advisory & Transaction Services
    Industrial & Logistics
    +852 2989 5173
    Email

    Jason Fong
    Logistics Specialist
    CBRE Research,
    Asia Pacific
    +852 2820 2867
    Email

    Loh Lee Fen
    Associate Director
    Advisory & Transaction Services
    Industrial & Logistics
    +65 6328 1314
    Email


    Self-Storage Space in Asia 2016

    Self-Storage Space in Asia 2015

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