Retail property rentals, prices fall at slower clip in Q2 but vacancy rises: URA
Add BT as a preferred source
Kalpana Rashiwala
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Urban Redevelopment Authority's retail property rental index fell 1.2 per cent in the second quarter of this year over the preceding quarter - a smaller drop than the 2.9 per cent quarter-on-quarter decrease in Q1 2017.
URA said on Friday that its retail property price index retreated 3.2 per cent in Q2, again a smaller decline than the 4 per cent drop in Q1.
The amount of occupied retail space decreased by 3,000 sq m (nett) in Q2 2017, compared with the decrease of 41,000 sq m in the previous quarter.
The stock of retail space expanded 18,000 sq m (nett) in Q2 2017, against a decrease of 29,000 sq m in the previous quarter. As a result, the island-wide vacancy rate of retail space rose to 8.1 per cent at end-Q2 2017, from 7.7 per cent at end-Q1 2017.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
