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Q2 net demand for retail space shrinks by record 93,000 sq m

This is more than double Q1's 43,000 sq m fall and the biggest reduction since URA's time series for this segment began in 2011

Kalpana Rashiwala

Published Fri, Jul 24, 2020 · 09:50 PM

Singapore property

Singapore

THE severe bruising of the Singapore retail sector amid the Covid-19 pandemic has been reflected in the latest official data on the retail property market.

The Urban Redevelopment Authority's (URA) rental index for retail space in Singapore's central region slipped 3.5 per cent quarter on quarter in Q2 2020 - to its lowest level since the index began in 2011.