Singapore retail rents up as vacancy rate tightens

Nov 5, 2019Updated Jun 4, 20251 min read

Singapore retail rents increased in the third quarter of this year, according to Urban Redevelopment Authority.

Figures published by The Straits Times show the rental rates increased by 2.3 percent, overturning a fall of 1.5 percent during the previous quarter.

According to the URA, the total supply of retail space available in ongoing projects within the territory stood at 288,000sqm, a reduction from 320,000sqm previously. Occupied retail space went up by 29,000sqm, as opposed to 74,000sqm in the second quarter.

This is what drove the turnaround in Singapore retail rents in the three months to September 30, says the URA.

Vacant retail space across the island now stands at 7.5 percent. This despite the opening of major shopping destinations Funan mall in downtown Singapore and Jewel Changi at the airport this year.

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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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