Singapore central region retail rents down 0.5% in Q2, signals rocky road to recovery

WHILE the easing of pandemic measures have supported retail activity, border restrictions and the looming economic downturn remain obstacles to the sector’s recovery.

Rents of retail spaces in Singapore’s central region fell for the second quarter in a row this year. Q2 2022 rents slipped 0.5 per cent quarter on quarter following Q1’s 0.4 per cent decline, according to figures from the Urban Redevelopment Authority (URA) released on Friday (Jul 22). 

Prices of retail space in the central region also dropped by 1.2 per cent in Q2 after it dipped 1.4 per cent in Q1.