Retail rents fall further as vacancies creep up
URA's latest data shows retail rents falling 1.9% in Q1, while the vacancy rate inched up to 7.3% on weaker demand and greater supply
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Singapore
RENTALS of retail space in Singapore fell 1.9 per cent in Q1, a steeper decline than the 1.3 per cent dip in the previous quarter, said the Urban Redevelopment Authority (URA) on Friday.
Consultants noted that this was the fifth consecutive quarter of falling retail rents, with the sector being hit by labour constraints, weak retail performance and competition from e-commerce.
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