Retail in Asia

In Shops

Singapore’s retail rents down 1.2pc in Q4, culminating in 5.9pc full-year drop, says DTZ

Average island-wide first-storey retail rentals have fallen by 1.2 percent in Q4 2015, compared to the last quarter, to about SGD30.50 (USD21.3) per square foot (psf), DTZ data showed on Wednesday.

This is the third consecutive decline since Q2 2015. For the whole of 2015, average first-storey rents fell at a faster pace of 5.9 percent, compared to the slower decline of 0.3 percent in 2014.

"Much of the decline in 2015 was attributed to weakened consumer sentiments amid uncertain global economic conditions," DTZ noted.