Retail rents dip 0.7% QoQ in Q3

Island-wide vacancy rate decreased to 6.9%.

Prices of retail space decreased by 0.7% quarter on quarter in the third quarter of the year, compared with the 0.1% increase in the previous quarter, according to an Urban Redevelopment Authority report.

Meanwhile, rentals of retail space increased by 0.9% QoQ during the same period.

There was a total supply of about 530,000 square metres of gross floor area, compared with the 527,000 sq. m. in Q2.

Moreover, occupied retail space increased by 22,000 sq. m. whilst the stock increased by 6,000 sq. m.

As a result, the island-wide vacancy rate decreased to 6.9%, from 7.1% in Q2.

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