Rents of Grade A CBD offices, prime retail spots facing pressure
Cushman & Wakefield sees declines except for stable prime suburban retail rents
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Mindy Tan
Singapore
RENTS across both Grade A CBD office spaces and prime retail spots will likely continue to face pressure in the coming 12 months, says property consultancy Cushman & Wakefield in its Q2 Marketbeat reports. It forecasts declines across the board, except for prime suburban retail which has a stable 12-month outlook.
On the retail front, the consultancy noted that there are increased food and beverage (F&B) components in shopping malls and department stores to combat the surge of e-commerce. It also noted that the paradigm shift in shopping is becoming more evident, and that brick and mortar shops will be inadequate in today's context.
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