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Amended: Difficult retail conditions show in Q1 rental dip: DTZ

Fourth straight quarter of rental decline since Q2 2015; large impending supply in 2016 also to blame

Singapore

RETAIL rentals fell islandwide in the first quarter on weak demand, data from DTZ South-east Asia released on Tuesday showed, coalescing with news of retailers consolidating and vacancies on the climb.

According to the consultancy, average monthly first-storey rents fell 1.2 per cent quarter on quarter to about S$30.15 per square foot (psf) in the first three months of the year.

This is the fourth straight quarter of rental decline since Q2 2015. Rentals are now also 7 per cent lower than...

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