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Retail Singapore

December 2021

Report

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsdatum : 01.12.2021
  • Seiten : 3 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 1,44 MB
  • Sprache(n) : Englisch

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Inhalt

Vacancy falls on the back of stronger take-up

  • Total offline retail sales and food & beverage (F&B) revenue fell for two months before posting a slight recovery in September as strict dine-in and event restriction measures during the Phase 2 (Heightened Alert) period were enforced in July and August.
  • After displaying some short-lived signs of stabilising in Q2, retail rents continued to soften in Q3. Savills monthly prime rents in Orchard Area decreased by 2.3% quarter-onquarter (QoQ) to S$21.20 psf, while in Suburban Area they fell by 1.7% QoQ to S$23.20 psf.
  • The softening rental market is starting to have some positive spillover effects on leasing demand. Coupled with more shopper traffic in malls, the retail market continued to see healthy take-up rates, bringing the islandwide vacancy down to 8.1% in Q3.

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