Demand And Needs For Storage Space
Throughout the entire world, the demands and needs of self storage has seen an increasing demand year after year. Self storage is not targeted at certain group of people; they are meant for everyone! Everyone from all walks of life can utilise self storage facilities to store their things. Why are the demands and needs of storage space increasing? What are some of the factors that are leading to the increase?
Rising housing cost
With housing cost rising year after year and more people staying single, many people choose to rent instead of buying. As a result, many people do not have their own personal space. People also move houses more frequently compared to the past. This will give rise to a lack of storage space for their items and a rise in the demand for external storage space. They need a temporary place where they can store their items in a safe environment.
Rising office rental
Housing cost are not the only ones that are rising. Office rental cost are at an all time high and many small to medium business are left with no choice but to downsize their office in order to remain competitive in the business. With the downsizing comes a shortage of store space for the company. Although items that are required in the day to day operation of the company cannot be stored elsewhere, documents that are seldom used such as archive files can be stored in a self storage facility. Some food and beverage business also utilise self storage facilities to store their excess equipment and utensils.
You may be wondering how does an ageing population has to do with an increase in self storage demand. The birth rate of Gen X and Gen Y population are at an all time low and the society is ageing without sufficient births to keep the balance. Many old people are selling their own flats and either moving in to stay with their children or into the old folk’s home. This will cause them to have a sudden lack of storage space for their prized possessions which in the eyes of others are junk. Most people are not comfortable with the idea of old people bringing all their belongings to stay with them and thus, most older people would rather store their items in a self storage facility.
Self storage demand is at its all time high and it represents a great opportunity for the companies. In time to come, the demand will surely soar even higher and self storage will definitely be an integral part of our lives.