Rental for prime Orchard Road locations remained stable at about S$31.10 per square foot in July and September after contracting for the last seven quarters. Property consultancy CB Richard Ellis (CBRE) said rent in suburban malls however continued to strengthen. It said this is because of a strong catchment demand. Prime Suburban rents rose to S$29 per square foot, per month between July and September...
Retail Rental
Retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Government roll out plans to improve the rail network, according to some analysts. With the Land Transport Authority set to spend $60 billion over the next decade on initiatives to ease passenger congestion, market watchers said the move could also direct more traffic to underground...
Some analysts have said retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Singapore government rolls out plans to improve the rail network. The Land Transport Authority will spend S$60 billion over the next decade on initiatives to ease passenger congestion. Market watchers added that the move could also direct more traffic to underground...
Rental values for retail space across Singapore ended on a mixed note in the second quarter of this year. That's according to estimates by property consultancy DTZ Research. The report found that retail rents at Orchard and Scotts Road stood unchanged for the second consecutive quarter, as the performance of retailers was mixed in light of new supply that came on-stream since last year. Gross rents of...
Singapore prime Orchard Road shopping belt has been ranked the 27th most expensive retail street in the world by property consultant Colliers International. The city moved up one notch from the 28th spot last year in the Colliers annual global ranking of rents for prime retail space. Colliers said prime retail space along Orchard Road is US$330.19 per square foot per year on average. This was up about 2...
Singapore has moved up one spot to become the 17th most expensive retail location in the world. According to the latest CB Richard Ellis (CBRE) Global MarketView report on the retail sector, prime retail rents in Singapore stood at US$436 ($619) per square foot per annum in the first quarter of this year. It said prime retail rents in the world's leading shopping destinations have stabilised in most...
Singapore has moved up one spot to become the 17th most expensive retail location in the world. According to the latest CB Richard Ellis (CBRE) Global MarketView report on the retail sector, prime retail rents in Singapore stood at US$436 per square foot (psf) per annum in the first quarter of this year. It said prime retail rents in the world's leading shopping destinations have stabilised in most...
Property consultant CB Richard Ellis said the pace of prime Orchard Road rental decline slowed in the first quarter this year. In a research report, it noted that prime Orchard Road rents averaged S$32.20 per square foot per month in the first quarter, down by just 0.7 per cent on-quarter. Rents had declined between 1.5 per cent and 3.3 per cent in the previous four quarters. Prime suburban rents,...
Singapore retail rents have held firm in the first quarter of this year. According to estimates by DTZ Research, rental values of retail space in the prime retail belt of Orchard and Scotts Road, other city areas and even suburban areas remained unchanged. DTZ said gross retail rents at the Orchard and Scotts Road area stayed firm as the market absorbed the new supply that came onstream in 2009 and in...
Prime retail rents have picked up in the current fourth quarter as leasing activity gather steam on the back of improved confidence and economic recovery, according to DTZ Research. Its estimates showed that gross rents of prime first-storey retail space in Orchard and Scotts Road increased marginally by one per cent to S$39.10 per square foot per month, after falling 7.3 per cent in the last four...