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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.
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