Retail rents in hyper-expensive Singapore are still cheaper than Hong Kong

Leasing costs are at US$308 psf per year.

Brands looking for space in Orchard Road Singapore should brace their wallets as leasing costs in the prime retail district are at US$308 psf annually, according to a report from real estate consultant Cushman & Wakefield.

This grants Singapore the distinction as the 9th most expensive retail location in Asia Pacific and 17th in the world.

“Rents on Orchard Road, the main street in Singapore, have stabilised after softening in 2017 and are expected to bounce back by the end of 2018,” the report’s authors said.

Also read: Singapore malls embrace activity-based tenants

In fact, rents in Singapore’s more suburban locations have edged higher than Orchard Road’s flat performance as residential catchments and the high frequency of shopping trips have pushed leasing costs up.

Nonetheless, retail rents in Singapore are still cheaper than hyper-expensive Causeway Bay in Hong Kong which wrestled the top spot away from Upper Fifth Street in New York as the most expensive retail location in the world. Rents in Causeway Bay are over eight times more than Singapore's leading retail district at US$2,671 psf/year.

Japan’s Ginza district is the second priciest retail location in the APAC with rents at US$1,219 psf/year followed by Australia’s Pitt Street Mall at US$964 psf/year. South Korea’s Myeongdong and China’s Wangfujing round out the top five at US$908psf/year and US$492psf/year respectively.

Photo from Erwin Soo - Plaza Singapura Shopping Mall., CC BY 2.0

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia