Survey shows industrial markets in Asia-Pacific bottoming
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Colliers International’s latest bi-annual survey on the industrial real estate costs in Asia Pacific concluded that the industrial markets across the region are showing signs of bottoming after being hit by the global financial crisis in September 2008.
Conducted over a six-month period from April 2009 to September 2009, the survey covers rents, land and capital values of single-user factories, warehouses and multi-user high-specifications (high-specs) industrial premises in 13 key cities across 9 countries.
Ms Tay Huey Ying, director of Research and Advisory at Colliers International, says: “As of end-September 2009, rents, land and capital values for industrial premises in most of the Asia Pacific cities surveyed have contracted by up to 30 percent – signifying a large moderation when compared to 40 per cent six months ago.
The slow down in the rate of declines in rents, land and capital values across most of the markets is due to improved business confidence. Fears of a prolonged recession in the Asia Pacific region have started to ease in 3Q 2009, on the back of upbeat economic indicators. Particularly, trade-dependent cities – including Hong Kong, Japan, New Zealand, Singapore and Taiwan – have already moved out of a recession, underpinned by improvements in exports and manufacturing output.”
Ms Tay Huey Ying, director of Research and Advisory at Colliers International, says: “As of end-September 2009, rents, land and capital values for industrial premises in most of the Asia Pacific cities surveyed have contracted by up to 30 percent – signifying a large moderation when compared to 40 per cent six months ago.
The slow down in the rate of declines in rents, land and capital values across most of the markets is due to improved business confidence. Fears of a prolonged recession in the Asia Pacific region have started to ease in 3Q 2009, on the back of upbeat economic indicators. Particularly, trade-dependent cities – including Hong Kong, Japan, New Zealand, Singapore and Taiwan – have already moved out of a recession, underpinned by improvements in exports and manufacturing output.”
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