Rents down, vacancy rate up for retail space in Q2
In this article (4)
Prices and rentals of retail space both dipped by 0.5 per cent in the second quarter of this year, according to data from the Urban Redevelopment Authority on Friday.
It was the second straight quarter of rental decline and comparable to the level seen early last year. Prices had stayed stable in the first quarter.
Vacancy rate of retail space rose 0.4 percentage points to 7.2 per cent for the second quarter, the highest in over four years.
SOURCE: URA
Office rents also weakened by 2.6 per cent in the second quarter, after rising 0.6 per cent in the first quarter.
SOURCE: URA
Office prices rose 0.3 per cent in the quarter, after falling 0.1 per cent in the first quarter.
Vacancy rate of office space dipped by 0.4 percentage points to 9.8 per cent for the second quarter.
Questions & Answers
Q.How much did retail rents fall by in the second quarter?
How much did retail rents fall by in the second quarter?
Rents for retail space declined by 0.5 per cent in the second quarter of this year. This marked the second consecutive quarter of rental decline, matching levels observed early last year.
Q.What is the current vacancy rate for retail space?
What is the current vacancy rate for retail space?
The vacancy rate for retail space increased by 0.4 percentage points, reaching 7.2 per cent in the second quarter. This figure represents the highest vacancy rate recorded in over four years.
Q.How did office rents perform in the second quarter compared to the first?
How did office rents perform in the second quarter compared to the first?
Office rents weakened significantly by 2.6 per cent in the second quarter. This is a contrast to the first quarter, when office rents had actually seen a rise of 0.6 per cent.