Retail Rental

Singapore retail rents up 2.3% q-o-q in Q3; vacancy rate drops to 7.5%: URA

Rents of retail space in the central region of Singapore increased by 2.3 per cent in the third quarter, after falling 1.5 per cent in the previous quarter, according to data released by the Urban Redevelopment Authority (URA) on Friday. URA's price index of retail space in the central region was up 1.1 per cent in Q3, versus the 0.4 per cent increase in Q2. As at the end of Q3, there was a total...

Singapore retail rents ease 1.5% q-o-q in Q2, vacancy rate drops to 7.7%: URA

Rents of retail space in the central region of Singapore declined 1.5 per cent in the second quarter of 2019 over the previous three months, after dipping 0.2 per cent in the first quarter of this year, according to data released by the Urban Redevelopment Authority (URA) on Friday. URA's price index of retail space in the central region rose by 0.4 per cent in the second quarter of 2019 over the...

Retail rents down 1.2% in Q4, culminating in 5.9% full-year drop: DTZ

AVERAGE island-wide first-storey retail rentals have fallen by 1.2 per cent in Q4 2015, compared to the last quarter, to about S$30.50 per square foot (psf), DTZ data showed on Wednesday. This is the third consecutive decline since Q2 2015. For the whole of 2015, average first-storey rents fell at a faster pace of 5.9 per cent, compared to the slower decline of 0.3 per cent in 2014. "Much of the...

Waning rents, tenant demand prompt malls’ repositioning

IN the heyday of the retail-property market, many landlords were eager to slice retail spaces into smaller units to lease out at higher rents per square foot. Now in the face of softening rents and dwindling tenant sales, some landlords are changing tack to lure back the bigger tenants they were once inclined to shoo away. While this curating of tenant mix may lend support to mall occupancies and...

Rental gap narrowing between suburban and Orchard malls

THE rental gap between prime spaces in suburban malls and Orchard malls has been narrowing - and this trend is slated to continue into 2016. Property consultants noted that the relative resilience of suburban malls stems from their larger local catchment and lower susceptibility to tourist spending, which has been dealt a blow from lacklustre tourist arrivals and competition from other global cities for...

Prices of office space up, retail space down in Q2: URA

Prices of office space rose 0.3 per cent in the second quarter compared to the previous quarter, while prices of retail space fell 0.5 per cent, the Urban Redevelopment Authority (URA) said on Friday (Jul 24). Rentals of office space fell 2.6 per cent in the second quarter, compared with the 0.6 per cent increase in the first quarter. Rentals of retail space decreased by 0.5 per cent, compared with the...

Orchard Road retail rents scrape four-year low

When Singaporean Hidayu Mustaafa craves for retail therapy, she walks to a mall five minutes from her home in the eastern suburb of Tampines instead of bussing down to Orchard Road - the island-state's shopping Mecca. That is bad news for Orchard Road's glitzy malls, which showcase brands such as Inditex's Zara and H&M, as well as luxury names like Chanel and Prada. Increased competition from...

Retail rental market operates without much Government interference: MTI

The Government, as a general principle, allows the market to operate without having to prescribe how landlords and tenants structure their leases, said Minister of Trade and Industry Lim Hng Kiang. Stepping in would lead to inefficient outcomes and make all parties worse off, he added. Mr Lim said this on Monday (May 11) in a written parliamentary response to a question by Member of Parliament Lee Bee...

Shopping mall rents set to fall in 2015: Savills

Rents for shops and restaurants in Singapore are expected to fall this year, with prime rents on Orchard Road forecast to recede by 3 to 5 per cent and rents in suburban malls by up to 3.0 per cent, real estate services firm Savills said in a report on Wednesday (Feb 11). "It appears that landlords in the prime shopping districts are beginning to hold out olive branches to retailers, many of whom are...

Shopping mall rents likely to stay flat this year: Colliers

Shopping mall rents in Singapore are likely to stay flat for a second year in a row, held down by strong resistance on the part of retailers already struggling with high costs, property services firm Colliers International said on Tuesday (Jan 6). Colliers estimated that for the whole of 2014, the average monthly gross rents of prime retail space in Orchard Road slipped by 0.8 per cent year-on-year,...

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