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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