27 Dec '13, 6am

#GlobalREBubble #Singapore 'Prime Retail Rents In Orchard Road Down 2.1%' via @SGPropertyGuru

Rents of prime retail space at Orchard Road fell 2.1 percent year-on-year, a better than expected performance from the three to five percent decline forecasted at the start of 2013, according to a report from Colliers International. In the regional centres, rents of prime retail space inched up by 0.1 percent for the entire year. On a quarterly basis, monthly gross rents of prime ground floor retail space in Orchard Road climbed 0.2 percent to S$36.46 psf in Q4 2013, while those in the regional centres held firm at S$33.46 psf. “2013 was a year when the retail property sector enjoyed the impetus of new stores set up, as well as expansion into new and existing malls the moment space becomes available,” said Calvin Yeo, Deputy Managing Director of Colliers International. The report also highlighted a narrowing gap between the rental premium of prime retail space in Orchard R...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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