Demand for self storage continues rising among homeowners and businesses | The Business Times
Issue: Jan 2023
Our Group Director of Store Operations, Luigi La Tona, recently got interviewed by The Business Times to share that more homeowners are turning to StorHub as homes keep on getting smaller while prices continue rising in this day and age. At present, StorHub owns 2.1 million square feet of gross floor area across 18 storage facilities in Singapore with a 35% increase in new customers that have moved in over the course of two years between 2020 and 2022, keeping most of our storage facilities 93 per cent occupied.
He pointed out that we are in the post-pandemic phase and the reopening of our borders in Singapore has brought in flocks of tourists and expats. Businesses have started to have their headquarters relocated to our country, causing a spike in demand for storage space among these people who are coming into Singapore from all over the world and are in need of space to keep the things they own.