Prime retail rents improve in 1Q2022 amid consumer rebound
Looking ahead, Colliers predicts a more supple retail expectation as well as leaseholder sales on the back of raising shopper step together with the lifting of trip curbs and also harmless administration actions. “This augurs well for retail operators, most especially those situated in the Downtown Core and also Orchard,” claims Koh.
“With step recovering strongly in the Orchard Road buying belt and the CBD, along with shopper traffic in the suburban areas maintaining tough, this plainly indicates that the bricks-and-mortar business is still pertinent, even as on the internet buying gets traction,” announces Dickson Koh, associate supervisor of study at Colliers Singapore.
He expects stores will certainly be much more bullish concerning their growth strategies, which would certainly give even more service to a more powerful leasing interest. Lesser openings prices amid restricted new supply should also maintain a progressive comeback of retail rentals from 2H2022. However relentless inflationary pressures as well as workers shortages might temper progress.
Prime retail rents in country as well as Orchard Road spots edged up by 0.7% as well as 0.4% specifically in 1Q2022, according to a review by Colliers. This is an improvement from 4Q2021 which saw prime suburban rents up by 0.5% q-o-q while Orchard Road retail leas somewhat enhanced by 0.1% q-o-q.
