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Figure 34. 2018 Top Ten Cities with Most Expensive Prime Logistics Rent (Ranked on USD per sq ft per annum)Hong KongLondonGreater TokyoShanghaiStockholmSingaporeOaklandBeijingMunichSydney0 10 20 30 401stSource: CBRE Research17 CBRE Research. (2019). Global Prime Retail Rents Q4 2018.Low vacancy rate indicates a tight market, which usually leads to high rentals. According to CBRE Research,17 in 2018, the prime logistics rent in Hong Kong was the highest in the world. The average rent per square foot per annum exceeded USD 30 (approximately HKD 240), while our neighbouring cities such as Greater Tokyo and Shanghai recorded rates of only USD 19.96 and USD 10.51 respectively (Figure 34).49
