Price, rental rises recorded for office, retail sectors

Singapore

COMMERCIAL properties offered some cheer against the backdrop of a bleak residential market, with office and retail segments registering price and rental increases last year.

Data from the Urban Redevelopment Authority (URA) released on Friday showed a 9.8 per cent climb in rents and a 4.5 per cent rise in prices for the office sector over the whole of 2014. For retail space, both rents and prices grew 0.9 per cent last year.