Tokyo tops list of locations with expensive industrial property rents | 1 September 2013
Tokyo boasts the world’s most expensive industrial building rents, according to new research.
A new study by CBRE indicates that the average industrial property in Tokyo charges the equivalent of $20.02 per square ft per year. London ($19.12) and Singapore ($17.13) were also ranked as great locations to invest in this type of property, if high rents is the goal.
According to property-magazine.eu, industrial property rents grew by 2.2 per cent in Tokyo in the last quarter, thanks mainly to a rise in exports and a gradually strengthening economy.
Rents grew in eight of the ten most expensive markets, largely due to a shortage in supply in most of them.
In an interview with cbre.co.uk, CBRE’s global chief economist Dr Raymond Torto suggested that the global market was looking strong for the short-term future at least.
He said: “Retailers continue to serve as a significant source for global logistics demand in many markets, including London, Tokyo, Singapore, and Hong Kong. Meanwhile, the growth of e-commerce and international demand has benefited cities such as Tokyo and Brisbane.
“While several cities have considerable supply pipelines, including Tokyo, Perth, Brisbane and Stockholm, there is little concern of oversupply due to strong demand.”
Helsinki also forced its way into the list for the first time.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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