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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

Published Wed, Sep 30, 2015 · 09:50 PM
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Singapore

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 July-September quarter is the lowest since the first quarter of 2006, said the real estate services firm.

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