Value of prime strata retail units up in Q2
Growth largely due to limited supply; but rents in most areas remain flat
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[SINGAPORE] Limited supply of prime strata retail units is lending support to their capital values, which inched up in the second quarter even while retail rents remained largely flat.
Based on a basket of completed properties tracked by DTZ Research, both the average resale capital values of prime retail units in Orchard/Scotts Road and suburban areas grew 0.8 per cent quarter-on-quarter. These units are those with good frontage or pedestrian traffic.
"Capital value growth is expected to stay firm due to the limited supply of prime strata retail units," said Lee Lay Keng, DTZ's regional head (SEA) of research.
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