See why retail rents will likely remain stable

Plus the sector's full 2H13 forecast.

According to the latest retail sector outlook by Colliers Singapore for the second half of 2013, it said: "Going forward, based on the performance of retail sales by far, consumer sentiment is expected to remain on the side of caution.

"Nonetheless, many shopping centres along Orchard Road and in the Regional Centres are expected to still maintain tight occupancy rates, as new-to-Singapore brands continue to make inroads into the Republic to capitalise on her fast-growing international profile.

Colliers Singapore said that given the continued momentum of new openings and setups in many of the popular and well located malls, retail rents are expected to remain stable.

Ms Chia Siew Chuin, Director of Research & Advisory, Colliers International, says, “New malls in Orchard Road would, by and large, be able to maintain their current rental levels; but older malls – particularly those that have not been refurbished – are likely to have their rents come under pressure.

Therefore, any downside movement of rents for retail space in Orchard Road is expected to be capped within 5 per cent for the whole of 2013.

Meanwhile, rents of retail space in the Regional Centres are expected to remain stable until the end of 2013 – near the level recorded in the beginning of the year at S$33.38 per sq ft per month.

Given that there are limited new launches and retail units in popular locations, prices of existing stratatitled retail units are expected to increase.

Ms Chia adds, “Barring any policy measures from the government that might dampen the commercial sector, the capital value of prime strata-titled retail units in Orchard Road is likely to increase by some 10 per cent for the entire 2013. Comparatively, capital values of prime strata-titled retail units in the Regional Centres are expected to see an increase of at least 15 per cent by the end of 2013.”

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