Retail rents fell 14.7% in 2020; market will remain challenging, say analysts

Singapore

THE decline in retail rents gathered pace in the fourth quarter, taking the full-year drop in the Urban Redevelopment Authority's rental index of retail space in the central region to 14.7 per cent - in contrast with the increase of 2.9 per cent in 2019.

Property consultants expect retail property rents to continue languishing - at least in the near term.