Singapore Retail Vacancy Stable at 6.3% in Q1
MT Newswires05-21
Singapore's retail vacancy held firm at 6.3% during the first quarter of the year, despite lower leasing demand, according to a report by Savills on Thursday.
Average monthly rents in the Orchard Area remained stable, while suburban rents reported slight growth.
The suburban retail sector reported a net absorption of 140,000 square feet during the period, while rents in the Orchard area were up 0.1% quarter over quarter.
Savills projects that a total of 427,000 square feet of net lettable area will come online in 2026.
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