Retail in Asia

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Retail rents in 16 Asia markets shows sluggish growth

Retail rents in 16 major cities in the Asia-Pacific region grew sluggishly in the first quarter as a weakening global economy dampened consumer confidence.

The Asia-Pacific Prime Rental Index compiled by property consultant CBRE, which monitors 16 major markets excluding Japan, showed these cities recorded 0.4 percent growth in the first quarter. But this was slightly better than the 0.1 percent growth in the fourth quarter of last year.

CBRE believes the slow growth was caused by the caution exercised by domestic retailers as they pulled back from expansion amid the uncertain economic outlook.

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