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

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.

This is in sharp 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.