Rents for prime retail space in Regional Centres inched a tad 0.1% higher

Those in Orchard Road dropped.

According to Colliers International, as of the end of June 2013, the average monthly gross rents of prime retail space in the Regional Centres gained a slight 0.1 per cent – from S$33.38 per sq ft in the preceding quarter to S$33.42 per sq ft in 2Q 2013.

Comparatively, the average monthly gross rents of prime retail space in Orchard Road declined by 0.9 per cent – from S$36.75 per sq ft in 1Q 2013 to S$36.42 per sq ft in 2Q 2013.

Consequently, the rental premium that prime retail space in Orchard Road commands over similar space in the Regional Centres narrowed further from 10.1 per cent in 1Q 2013 to 9 per cent in 2Q 2013.

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