Chart of the Day: Retail supply pipeline to drop to 280,000 sqft in 2020
Suburban and fringe areas are expected to account for the bulk of future retail supply.
This chart by CBRE shows that Singapore’s retail supply pipeline is expected to drop significantly to 280,000 sqft by 2020.
The four-year average supply of retail space amounted to about 250,000 sqft per annum from 2020 to 2023, significantly lower than the five-year historical average of 1.37 million sqft per annum.
Retail space in suburban and fringe areas are expected to account for the bulk of future supply at 47.8% and 29.6% respectively.
CBRE notes that limited retail supply will commensurate with the lower level of demand.