Rising logistics rentals

The resilient demand from eCommerce companies, third-party logistics (3PL) entities and manufacturers has pushed rentals higher in the first half of 2023 (1H23) in the Asia-Pacific (Apac) region.

This is despite the flagging gross domestic product growth in China and uncertain global economic forecast.In the 2H23, Knight Frank foresees that while the persistent shortage of quality spaces is expected to drive rent increases in the region, the cautious approach of occupiers is likely to temper the rate of growth.