News
RETAIL | Staff Reporter, Singapore
view(s)

Retail space prices dipped 0.1% in Q1

Pipeline supply for retail space rose 4.1% to 509,000 sqm.

The prices of retail space slightly rose by 0.1% in the first quarter 2018, significantly softer than the 1% increase in the previous quarter, the Urban Redevelopment Authority (URA) revealed. The rentals of retail space rose by the same rate at 0.1%, which improved from the 0.5% decrease last quarter.

There was a total supply of 530,000 sqm gross avenue (GFA) of retail space from projects in the pipeline, 4.1% higher than the 509,000 sqm GFA of retail space in the pipeline last quarter.

The amount of occupied retail space remained unchanged compared with the increase of 64,000 sq m (nett) in the previous quarter. Meanwhile, the stock of retail space increased by 11,000 sqm (nett) compared with the increase of 18,000 sqm (nett) last quarter.

As a result, the island-wide vacancy rate of retail space jumped 0.01 ppt from 7.4% in Q4 to 7.5% at the end of Q1.

Photo from VasenkaPhotography CC BY 2.0

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.