An industry report conducted by the commercial real estate company CBRE Group, Inc.’s Asia branch titled “Asia Self-Storage: Demographic Changes Drive Demand for Self-Storage Space in Asia” showed that demand for self-storage business activity in Asia is growing.
With a solid Asian self-storage market, CBRE Asia’s industrial and logistics managing director Dennis Yeo notes “2016 represents an early-stage opportunity for market players, for both investors and operators. The market is driven by favorable demographic and economic trends, such as robust e-commerce expansion in the region, which is paired with low saturation in terms of self-storage per household relative to other markets globally.”
Yeo said that what propels the demand for the self-storage industry market in Asia, particularly in Hong Kong and Singapore are divorce, death, dislocation, and density, adding, “The ongoing challenges in sourcing investible stock in traditional asset classes that meet required returns in the low yield environment mean that institutional investors are continuing to look for higher-yielding opportunities in alternative sectors. As a result we’ve seen increasing interest from investors in self-storage in particular.”
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