Prime retail rents remain flat in Q1 2025

The average island-wide gross rent only grew 0.3% QoQ.

Prime retail rents in Q1 remained flat as the market struggled with rising operating costs and labor constraints, Knight Frank reported.

The average gross rent of prime retail spaces island-wide grew 0.3% quarter-on-quarter (QoQ) to $27.90 per sq ft per month (psf pm).

Most locations recorded marginal rental growth during the quarter apart from the City Fringe micro market, which declined 0.3% QoQ to $24.00 psf pm.

The Marine Centre, City Hall, and Bugis micro market recorded the largest growth at 0.6% QoQ to $26.40 psf pm, whilst the Orchard submarket recorded the highest average rent at $31.20 psf pm.