PUBLISHED SEPTEMBER 23, 2013
Prime retail rents unchanged but resale price growth slows: DTZ
AVERAGE rental values of prime retail space in Singapore remained unchanged but the pace of growth in resale prices of prime retail space continued to slow in the third quarter 2013, property consultants DTZ said.
The average rental value of prime retail space in the other city areas halted its decline in Q3, after falling by 0.7 per cent quarter-on-quarter (q-o-q) in Q1 and 0.3 per cent in Q2 this year.
This followed the completion of some of the asset enhancement initiatives at Marina Square and Suntec City, which have increased shopper traffic in the area.
The average rental value of prime retail space in Orchard/Scotts Road remained unchanged at S$30.23 per sq ft per month in Q3 - more resilient than previously expected thanks to the healthy pace of growth in tourist arrivals.
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