Asia-Pacific Logistics Sector Faces Slowdown as Rents Stagnate in 2024

The Asia-Pacific logistics sector experienced a significant slowdown in 2024, with rent growth plummeting to just 0.2%, a stark contrast to the robust 7% growth seen in 2023. This sharp deceleration, revealed in Knight Frank's latest report, highlights the sector's challenges amid geopolitical uncertainties and evolving market dynamics. While 14 out of 17 tracked cities maintained stable or increasing rents, the overall trend points to a cooling market. Melbourne emerged as a top performer with 6.7% growth, while Chinese mainland markets faced headwinds with rent plunges of 14-15% in Beijing and Shanghai.
Source: Knight Frank's Asia-Pacific H2 2024 Logistics Highlights report