Retail rents in Singapore may either hold or inch up over the next few years despite new supply coming on stream. This is supported by a healthy demand for retail space and the fact that rents tend to be "sticky" in nature, property analysts say.
This projection provides cold comfort to retailers looking for a breather from rising business costs. It also goes against the government’s hopes of easing rents with its estimated 600,000 gross square metres of retail space supply from 2014 to 2016.
JLL head of research for Singapore and South-east Asia Chua Yang Liang believes that retail rents will remain stable in the next three years, supported by healthy pre-commitment levels in recently completed malls and for the uncompleted pipeline.
(Source: The Business Times )