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Retail Singapore

June 2021

Report

Autoren: Alan Cheong , Sulian Claire

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsdatum : 01.06.2021
  • Seiten : 4 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 552,96 kB
  • Sprache(n) : Englisch

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Inhalt

Rental declines moderate

  • Food & beverage (F&B) revenue largely declined in Q1/2021 as operators continued to be affected by the COVID-19 pandemic control measures such as dine in capacity constraints and restrictions on large-scale events. However, retail sales (excluding motor vehicles) improved in the quarter, largely due to a lower base in the same period last year.
  • With the positive net demand of 301,000 sq ft outweighing the net supply of 108,000 sq ft, the overall vacancy rate declined for a second consecutive quarter by 0.3 of a percentage point (ppt) to 8.5% in Q1/2021, the lowest since the onset of the COVID-19 pandemic here in Q2/2020.
  • Despite the lack of tourists, the Orchard Area remains resilient with the vacancy rate remaining unchanged at 11.6%. On the other hand, the vacancy level in Suburban Areas declined for a third consecutive quarter by 0.8 of a ppt to 5.2%, its lowest level since Q1/2016.

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