Retail rents rebound 0.6% in Q2 despite drop in occupied space

Rental index returned to 80.6, the same level as in Q4 2025.

Rentals of retail space increased 0.6% in the second quarter (Q2) of 2026, reversing the 0.6% decline in the previous quarter, according to data from the Urban Redevelopment Authority (URA).

The rental index returned to 80.6, the same level as in Q4 2025.

Prices of retail space rose 0.8%, slowing from the 2.2% increase in Q1. The price index reached 104.4, up from 103.6 in the previous quarter and 101.4 at end-2025.

The amount of occupied retail space decreased by 37,000 square metres (sq. m.) nett during the quarter, reversing a 6,000 sq. m. increase in the preceding three months.

The overall stock of retail space also fell by 28,000 sq. m. nett, compared with an increase of 10,000 sq. m. previously.

Despite the lower stock, the island-wide vacancy rate rose to 6.5% from 6.3%, the URA showed.

Retail space in the development pipeline stood at about 604,000 sq. m. of gross floor area at the end of June, broadly unchanged from 605,000 sq. m. in the preceding quarter.

The pipeline was 8% higher than the 560,000 sq. m.recorded at the end of last year.

Of the pipeline supply, about 32,000 sq. m. is expected to be completed in the second half (H2) of the year. About 14,779 sq. m. of retail space was completed in H1.

Another 32,000 sq. m. is expected in 2027, followed by 104,000 sq. m. in 2028, 127,000 sq. m. in 2029, and 145,000 sq. m. in 2030. A further 164,000 sq. m. is expected after 2030.

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