Summary: Logistics rents across the Asia-Pacific region declined marginally by 0.4% YoY in H1 2025 due to cautious occupier sentiment and shifting supply chain strategies. Despite the overall slowdown, India and Brisbane showed strong rental growth, while most Chinese markets continued to face pressure from rising vacancies and oversupply.
- India led the region in rental growth (+3.4%) driven by manufacturing, 3PL, and e-commerce demand.
- Brisbane recorded >5% YoY rental increase but faced rising vacancies and incentives.
- China saw continued rent drops due to oversupply; vacancy rates in Beijing and Shanghai exceeded 25%.
Outlook for H2 2025 includes slower leasing, more tenant-favourable conditions, and growing focus on strategic, resilient logistics hubs across the region.
