(Yicai Global) Jan. 24 -- The average monthly rental price for warehouses in China's southern city of Guangzhou has almost doubled over the past 10 years to CNY32 (USD5) a square meter, with some properties fetching as much as CNY100 as new land supply dries up.

The commerce hub boasts a solid local consumer market and is a hub for import and export trade, according to a report published yesterday by commercial real estate firm Colliers International. Warehouses there are in high demand thanks to the region's mature e-commerce industry and the completion of recent cialis generique industrial projects, it added.

Government failings in planning and attracting investment led to a shortage of high-end warehouses and quality logistics properties, the report added.

"Monthly rent jumped to more than CNY100 a square meter for some warehouses in the Baiyun Airport Comprehensive Bonded Zone," said Deng Zhihui, deputy director of industrial real estate at Colliers' Guangzhou unit. "That's about the same as a grade-A office building in Guangzhou."

Developers have basically used up land reserves in the area, but constantly rising demand at e-commerce and retail firms is pushing up the need for warehouses. Rent and selling prices will continue to rise in the short term, Deng added, saying the average rental rate for non-bonded warehouses will have climbed 5 percent by the end of the year.