hong kong warehouse rents

Limited availability and robust demand from 3PLs drove up rents.

The vacancy rate also declined from 1.5% to 0.9%.

Rents rose by 3.9% in 2021.

Vacancies declined to 3.1% in the same period.

But rents could rise by up to 6%.

Some operators opted to renew as early as 9 months before their lease expired.

This is caused by improved occupancy and lower space availability.