Retail rents inched up while space prices slipped in Q3

Vacancy rate jumped 6.5% last quarter.

Data released today by the Urban Redevelopment revealed that prices of retail space slipped by 0.2% in the third quarter, following 0.3% decline in Q2.

Meanwhile, retail rents inched up by 0.1% in the Q3, moderating from the 0.6% increase in Q2.

The amount of occupied retail space increased by 15,000 sqm in Q3, while the stock of retail space increased by 52,000 sqm. As a result, the island-wide vacancy rate of retail space rose to 6.5% in the period, compared to 5.9% at the end of the second quarter.