Steeper falls likely for Singapore retail rents in H2
Vacancies in non-prime locations expected to rise as more businesses shutter for good: Cushman & Wakefield report
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Vivienne Tay
Singapore
VACANCIES from the second quarter of 2020 are expected to put further downward pressure on retail rents in Singapore as more businesses shutter for good, said Cushman & Wakefield (C&W) in a report on Thursday.
Many activity-based tenants such as those in food and beverage (F&B) and health and wellness will not be able to operate at full capacity with safe-distancing measures remaining in place, despite most retail businesses resuming operations since June 19 after Singapore's "circuit-breaker" period.
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