Why warehouses are Asia's new hot property…

They are not glamorous, there are no chandeliers or luxury furnishings, yet warehouses are hot property around the world.

But why?

In short, it is because businesses, especially retailers, are running out of space to put the many things we order online.

Since the pandemic began at the end of 2019, online shopping is estimated to have grown by 43.5% to reach $2.87tn (£2.1tn) globally, almost half of which came from Asia, according to market research firm Euromonitor.

The global supply chain crisis has been making headlines for months. Behind it is a web of disruptions to everything from factories, the shipping industry in Asia, the US and the UK and even a shortage of lorry drivers.

What you may not have heard about is that this has helped push the take-up of warehouse space around the world close to full capacity, with vacancy rates at record low levels.

It has been particularly marked in Asia as so many of the things we buy are made in and shipped through the region.

"The current vacancy rate in Asia is around 3% which is a historic low," according to Henry Chin from CBRE, the world's biggest commercial real estate services firm.

"The stronger demands from eCommerce and the ongoing supply chain disruptions mean that companies want to hold the highest safety stock on hand," he added.

Click here to read the full BBC News article.