Orchard Road rents tick up despite persistent retail headwinds

Rents climbed to $34.55 psf.

Intensifying retail headwinds did not dampen rental growth in the country's most famous shopping district. Data from CBRE showed that prime retail rents in Orchard Road inched up by 1% year-on-year to $34.55 psf in Q4.

Meanwhile, suburban rents remained flats at $30.30psf. CBRE attributed the growth to some key renewals in well-performing developments.

"Prime space in such developments is relatively scarce and retailers are willing to pay for a well-located store with high foot traffic and which attracts a wide catchment as the retail scene turns more competitibe," stated Desmond Sim, Head, CBRE Research, South East Asia.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!