SINGAPORE SELF-STORAGE MARKET - GROWTH, TRENDS, AND FORECASTS (2020 - 2025)

Abstract / Summary

The Singapore self-storage market is expected to grow at 6.3% CAGR during the forecast period of 2020-2025. The requirement for more space for belongings depends on several changes in a consumer’s lifestyle, such as moving home, family expansion, and retiring. With the rising urbanization and apartments in major Singapore cities gradually getting smaller and more expensive, a significant portion of the country’s population is finding they are running out of the room. Self-storage concepts have stepped in to cater to this rising customer requirement, and as provision steadily grows, it appeals to the players operating in the market.