The self storage industry has taken off in Asia despite the number of facilities in existence is still way below that of the US, Canada, Australia and the UK China and India, two of the most popular countries in the region, still do not have a self storage industry according to a study done by Jon Perrins of Extra Space based in Singapore.
The study suggested that a country needs to meet the minimum GDP of at least $ 20,000 per head of population in order for a self storage industry to thrive. To date, the GDP of China and India are still very low.
Currently, the Asian region has an estimated 250 storage facilities in place. These are located in Singapore (16), Hong Kong (143), Japan (73), South Korea (1) and Thailand. Compared to the US and the UK, the sizes of self storage units in these countries are smaller due to the smaller housing units there. Reports have it that the sizes of self storage units typically correspond to the sizes of homes in the countries where they are located. And so in these Asian nations, the storage rooms that customers look for are also smaller.
The growth and development of self storage in Asia is due to the presence of small homes and the high cost of retail space. With smaller homes, families are bound to face storage space problems particularly for their personal belongings. Business owners are also recognizing the importance of these units to keep their stocks instead of building their leasing commercial space and paying high fees for long term contracts. These self storage units have, in fact, been used by some companies as their showrooms to reduce costs.
Extra Space has four sites in Singapore. Australian Jonathan Perrins is the man behind this Business. He was also instrumental in the development of Steel Storage in the UK
Store-friendly has 65 sites in Hong Kong. Most are located on apartment blocks covering whole floors.
Big Orange has four sites in Singapore and two in Hong Kong. This is owned and operated by Angus Miller.
Quraz is a Japanese self storage provider. It is an upscale facility that has 33 sites in Japan today. The rental rates are quite high owing to the carpeted as well as temperature and humidity controlled self storage units.
My Storage operates in Thailand. Opened in August 2010, this facility has joined the expat community and has plans of expansion in the mainland.
Self storage has been very helpful to families and Business owners. They provide a clean and secure place to store personal and valuable items for the long term at affordable rates. As people in Asia face storage space issues in their small homes and offices, it is seen that these facilities will become very useful to them in the future. Even students who are enrolled in colleges and universities far from their homes can take advantage of these rental units to keep their personal belongings in between school breaks.