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According to a survey of 139 cities worldwide conducted by
Colliers International, the Republic was the ninth most expensive
city for prime logistics space during the second half of last year,
even though rents remained stable.
In the previous six-month period, Singapore had ranked 14th.
The Colliers report cites the Singapore dollar strengthening
against the US dollar and larger falls in rents in cities such as
Seoul, Sao Paolo and Honolulu, as key reasons for the city state
becoming more expensive relative to other locations.
In the second half of 2009, rents for prime warehouse space in
the Macpherson area remained relatively stable at about $1.50 per
sq ft (psf) per month.
Warehouse space made up about 18.7 per cent of total industrial
space in Singapore as of end-December last year.