Property shocker: Prices of retail units on a psf basis nearly tripled between 2009 and 2012

But size of the units shrank significantly.

According to Maybank Kim Eng, between 2009 and 2012, the size of retail units transacted shrank significantly whereas prices on a psf basis nearly tripled in some areas such as Bedok.

"And while prices in Downtown Core and Geylang appear to have stabilised, they seem to be on a steady increase in Novena and Kallang. Looking ahead, as the population rises in the Outer Central Region (OCR), the demand for retail units will inevitably increase."

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