Retail rents in Central Region slip 18.1% in Q3 this year from 2014 peak

Singapore

RETAIL rents in Singapore's central region have slipped 18.1 per cent from their most recent peak in the fourth quarter of 2014 to the third quarter this year, based on official data.

The familiar string of woes that has plagued brick-and-mortar retailers in the last decade - including competition from online shopping and e-commerce, labour shortage and leakage of shopper dollars as residents here prefer to shop overseas - is expected to continue depressing retail rents on the whole, making the recovery long and slow.