26 Oct '16, 7am

Singapore's commercial property faces a gloomy outlook. Here's why

The outlook for Singapore's commercial property, including retail, office and industrial space, may have turned grim, according to forecasts from real-estate services provider Colliers. Singapore's retail landlords and tenants face "challenging times," Colliers said in a note dated Monday, forecasting demand for retail space to lag behind supply this year, with a rise in new space pushing up island-wide vacancy rates. Colliers said leasing activity slowed and rental declines accelerated in the third quarter amid poor retail sales and online competition. Singapore's retail sales fell 1 percent in August on year overall and excluding the 30 percent jump in car sales, fell 6.5 percent, with drops in categories including jewellery, restaurants and recreational goods, according to official data. "In the near term, the uncertain economic outlook and heightened unemployment risk ...

Full article: http://www.cnbc.com/2016/10/25/singapores-commercial-prop...

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