Singapore's prime retail rents continue to fall in Q2

Singapore

AVERAGE prime retail rents in Singapore continued their downward trend in the second quarter, with those in Orchard Road falling by a bigger quantum than those of suburban malls, according to CBRE Research in a press release released on Thursday.

CBRE said average prime rents for the suburban sub-market fell 0.7 per cent from the first quarter of 2016 to S$29.45 per square foot per month. Average prime Orchard Road rents slipped 1.1 per cent from Q1 to S$32.50 psf/pm.