Hong Kong's warehouse rents hit weakest growth rate since 2009

Rents inched up by 0.4% only.

Industrial rental growth decelerated in Q1 2015 on the back of weaker leasing momentum coupled with a higher base of comparison.

According to a research note from CBRE, overall warehouse rents edged up 0.4% q-o-q in Q1 2015, well down on the 2.2% q-o-q growth registered in Q4 2014, and the weakest rate of growth since 2009.

Rental growth was mainly driven by cargo-lift access warehouses, which were up 0.4% q-o-q.

Here's more from CBRE:

Rents for direct ramp access buildings were flat.

Rents for flatted factories rose 1.0% q-o-q, the weakest growth since Q1 2009.

I/O properties, supported by demand from office and industrial occupiers, continued to outperform warehouses and factories, recording rental growth of 1.7% q-o-q.