The self storage industry has a brief history in Asia compared with that in the more mature markets in Australia, Europe and North America, but evolution is following to this part of the world as the notion of storing personal belongings elsewhere catches on.
Self storage also provides a flexible alternative for businesses that do not want to sign long- term leases and prefer to rent an appropriately sized space from a service provider, instead of a large warehouse where much of the space may go unused.
Outside of Australia, the industry is most established in densely populated regional cities such as Hong Kong, Singapore and Tokyo.
However, the concept is also catching on in China and Taiwan, and in very early development stage in India and parts of Southeast Asia.
Self storage markets in Asia Pacific are quite diverse and facilities on offer may vary substantially from one market to the next.
In the broadest classification, facilities are either indoor or outdoor. However indoor facilities can be housed in a warehouse or other industrial buildings (Hong Kong, Singapore and India), lower…