Now that Christmas is over, people the world over will be looking to get back into the working world just long enough to make it to New Year’s Eve. As the party dies down on the morning of January 1 there are likely going to be many people thinking about the new year ready to unfold in front of them and what their resolution may be.
For many it will likely to be to lose weight or spend more time giving back to others, but in this day and age there will likely be quite a few that will resolve to become more financially stable and secure as 2012 progresses.
One industry that appears poised to continue being a solid investment during these rough economic times is the self storage industry. Around the world there are reports of the industry growing and self storage facilities operating at or near full capacity.
In Texas, there are some facilities that have reported being full for some time. One company, Affordable Self Storage in Midland, TX, says it is not quite full, but is confident enough in the industry that the owners opened another self storage facility in the area called A-Plus Storage.
“There aren’t enough houses, there aren’t enough apartments, there aren’t enough hotels and there is a need for storage,” said Jeremy Dennis, Regional Manager of Affordable Self-Storage.
The success has not been just in the United States. In the UK the industry saw less construction of new facilities, but after having some trouble maintaining tenant levels in the last year the industry is expected to do much better in 2012.
“We remain confident about growth in the market and have recently submitted planning applications on two sites…showing our commitment to growth and providing new facilities that will meet this increasing demand,” David Cox, Safestore’s head of marketing, said.
Expansion is expected to hit the Asian markets as well. In Singapore, with homes being made smaller families have had no choice but to look to self storage units for some of their belongings. Many businesses have even taken to using self storage units as well with commercial space at a premium. Industry professionals see the self storage industry growing rapidly in Singapore in the years to come.
“My estimate is that the industry will be five times bigger than it is today in a decade, and it could double over the next two to three years,” said Jes Johansen, general manager of Store Friendly self storage in Singapore.
“U.K. Self Stirage Shows Signs of Resilience, Anticipates Steady Growth in 2012.” Inside Self Storage; 25 December 2011.
“Self-Storage Businesses Filling Up.” CBS7.com; 09 December 2011.
“Boom in self-storage trade as homes get smaller.” AsiaOne.com; 09 December 2011.