People that had the opportunity to get in on the ground floor of companies before they got really big have made large fortunes. For example, if you had invested in Microsoft, Apple, Facebook, or Google when they were small, budding companies, your bank account would probably be bursting its seams by now. The same situation is looming on the horizon for the self storage industry in Asia.
Currently, it is estimated that the available self storage space in Asia is one-and-a-half square foot per middle class person. Compare that with the United States. It has over 2.3 billion square foot of rentable storage space, which is the equivalent to 3 times the size of Manhattan Island. There is at least 17 square feet of rentable storage space per middle class person.
The self storage industry has been established for a while in Hong Kong, Singapore, and Japan. But only in those countries. It is either no-existent in the other ones or extremely limited.
The middle class population in southeast Asia is approximately 81 million people. There are approximately 3,000 facilities and 126 million square feet of rentable storage space. This averages out to 1.55 square foot of rentable space per middle class person. Experts in the industry estimate that to get to roughly the same amount of storage space per person as(like what is available in the United States), the rentable storage space in Asia needs to grow by 996%. That’s a huge growth expectation!
Asia has over 4 billion inhabitants. When there is growth in the middle class population, the need for self storage increases. The middle class in Cambodia, Indonesia, Malaysia, Thailand, and Vietnam is projected to become more predominately middle class within the next 10 to 15 years. So, the need for self storage is on the cusp of dramatically expanding.
Attending the Self Storage Expo Asia just might be your foot in the financial door on the ground floor for the self storage industry in Asia. In the long run, you might have great financial gains for investing in self storage there.
For those interested in learning more about the market and the growth opportunity, The Self Storage Expo in Asia 2014 will be held March 26th and 27 in Hong Kong. That would be a great opportunity to learn about the opportunities in Asia.
Here is a list of sessions at the Expo:
- Andrew Work – opening address
- Thomas Krendl – auditing a facility
- Ryan Squirrell – storage insurance
- Tony Christiansen – your attitude determines your altitude in life
- Oliver Close – driving self storage performance
- Panel discussion about the large sale transactions of 2013
- Darren Benson – maximizing returns by selecting the right property
- Joshua Steimle – self storage online marketing
- Simone Hill – the storage agreement
- Dallas Dogger – the connected self storage facility
- Hardy Good – what’s happening in the USA
- Panel discussion about the trends in 2013 and into 2014