Analysts cautiously hopeful retail slump over after Q3 data

Singapore

THE retail slump in Singapore could be nearing its trough. The latest figures from the Urban Redevelopment Authority (URA) show a moderation in the decline in rents, down 0.2 per cent in Q3, compared to a steeper 1.2 per cent drop in the previous quarter.

JLL's head of research and consultancy in Singapore Tay Huey Ying calls these "encouraging early signs that Singapore's retail property market could be approaching the end of the downturn". She said: "This is the mildest quarterly correction since the downtrend started in Q1 2015, and comes alongside the strongest quarterly net absorption observed for 2017."