Rents down, vacancy rate up for retail space in Q2

Jul 31, 2015Updated May 26, 20251 min read

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.

Rents down, vacancy rate up for retail space in Q2
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.

Rents down, vacancy rate up for retail space in Q2
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.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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