Monday, December 24, 2012

Demand for personal storage space increases at year-end

SINGAPORE: Demand for personal storage space has increased over the year-end period.

Some business operators say revenue has gone up by 15 to 20 per cent compared to regular times.

One Lock and Store personal storage space outlet in Bedok says 95 per cent of its space has been rented out.

And with the higher demand, it plans to expand its storage space by 50,000 square feet in February next year.

Businesses attribute the increase in demand to smaller living spaces, especially with the rise of shoe-box apartments in recent times.

And with many companies closing their accounts for the year, there are some who are looking for space to store their documents in the long-term.

Mr Michael Hagbeck, CEO of Extra Space Self Storage, said: "This is one of the busiest Christmas I've ever seen over the last four to five years. Surprisingly, you heard the economy being in trouble, but looking at this month, there is 20 per cent up on last month."

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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