Singapore retail store rents ease in second quarter

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