Singapore retail store rents ease in second quarter
In this article (5)
Central Singapore retail rents eased by 1.5 percent in the second quarter of this year, according to data from the Urban Redevelopment Authority.
That followed a smaller quarter-on-quarter decline of 0.2 percent in the three months to March 31.
At the end of the June quarter, there were 320,000sqm of space in the pipeline, down from 364,000sqm three months earlier.
Singapore retail space occupied by tenants rose by 74,000sqm in the quarter, more than reversing a 14,000sqm decline in the prior period.
That contributed to a fall in the vacancy rate across the city from 8.7 percent to 7.7 percent.
Singapore retail rents ease in second quarter
Questions & Answers
Q.What was the previous quarter's decline in central Singapore retail rents?
What was the previous quarter's decline in central Singapore retail rents?
In the three months leading up to March 31st, central Singapore retail rents saw a smaller quarter-on-quarter decline of 0.2 percent. This preceded the 1.5 percent drop observed in the second quarter of this year.
Q.What was the total amount of retail space being developed at the end of the June quarter?
What was the total amount of retail space being developed at the end of the June quarter?
At the close of the June quarter, there was 320,000 square metres of retail space in the development pipeline. This figure represents a decrease from the 364,000 square metres recorded three months earlier.
Q.How did the amount of occupied retail space change in the last quarter?
How did the amount of occupied retail space change in the last quarter?
Retail space occupied by tenants in Singapore increased by 74,000 square metres during the quarter. This significant rise more than compensated for a 14,000 square metre reduction experienced in the previous period.
Q.What was the change in the city's overall retail vacancy rate during the quarter?
What was the change in the city's overall retail vacancy rate during the quarter?
The city's retail vacancy rate fell from 8.7 percent to 7.7 percent in the quarter. This reduction was primarily attributed to the significant increase in occupied retail space during the same period.
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