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Prime retail rents dip to lowest since '06

DTZ attributes the fall in rents largely to weaker consumer sentiment and slower retail sales

Average prime first-storey rents in Orchard/Scotts Road slipped 3.5 per cent quarter-on-quarter to S$38.45 psf in Q3, while rents in city areas outside Orchard Road fell 4.5 per cent to S$22.10 psf.


AVERAGE prime first-storey retail rents fell islandwide by 3.7 per cent quarter-on-quarter and 4.5 per cent year-on-year to about S$30.90 per square foot in the third quarter of this year, DTZ South-east Asia said on Wednesday.

The average monthly rent recorded in the...

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