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Asia Pacific Industrial & Logistics Trends Q2 2025
July 17, 2025 5 Minute Read
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- Leasing sentiment in Singapore remained positive in Q2 2025 despite some divergence in performance between markets in the east and west of the country. Sources of demand included 3PLs and logistics firms, led by a major local logistics operator securing a significant space for relocation.
- Overall market conditions in Japan remained stable, with regional cities performing well despite the large supply pipeline. In Greater Tokyo, performance was mixed, with high vacancy in the Ken-o-do area but tighter supply in the inner regions. The impact of U.S. tariffs has been minimal as demand is driven mainly by domestic consumption.
- In Australia, leasing activity so far in 2025 has been stable and slightly up compared to the previous year. Tenant incentives are increasing but at a slower pace. With new supply broadening occupier choice and leasing terms becoming increasingly attractive, now is the opportune time for occupiers to relocate.
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Michael Bowens
Managing Director, Head of Industrial & Logistics Leasing, Advisory Services, Asia Pacific
Masashi Okumura
Executive Director, Industrial & Logistics, Japan
