Logistics rents rise 4% in Q4 2025 on limited supply

It climbed 17.2% from Q1 2020 levels.

Logistics rents in Singapore rose 4% year-on-year in the fourth quarter (Q4) of 2025 as limited new supply intensified competition for warehouse space, according to a Cushman & Wakefield report.

Rents were 17.2% higher than in Q1 2020, with average logistics rents reaching $21.7 (US$16.80) in Q4 2025.

Cushman & Wakefield said Singapore remains one of Asia-Pacific's (APAC) supply-constrained logistics markets, alongside Australia and Japan.

Limited development pipelines are expected to reduce vacancies and increase competition for space, it added.

Across APAC, 43% of markets are expected to see vacancy rates decline over the next three years as market conditions tighten.

By contrast, tenant-favourable conditions persist in parts of India and mainland China, where new supply continues to outpace occupier demand.

Demand in the region continues to be supported by e-commerce, manufacturing and supply chain diversification, with Southeast Asia emerging as a key growth hub.

Singapore's electricity cost index stood at 119 in Q4 2025, above the global sample median of 100, although electricity rates declined 10.9% from a year earlier.

Meanwhile, wage costs were broadly in line with the global median, with an index reading of 97.1.

$1 = US$0.77

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