Prices of retail space ended flat in 1Q
But rentals dipped by 0.3%.
According to the Urban Redevelopment Authority, prices of retail space remained unchanged in 1st Quarter 2014, following the 0.3% increase in the previous quarter. Rentals for retail space declined by 0.3% in 1st Quarter 2014, following the increase of 0.2% in 4th Quarter 2013.
Supply in the Pipeline
At the end of 1st Quarter 2014, there was a total supply of 928,000 sq m GFA of retail space from projects in the pipeline.
Stock and Vacancy
The amount of occupied retail space decreased by 59,000 sq m (nett) in 1st Quarter 2014. The stock of retail space increased by 19,000 sq m (nett) in 1st Quarter 2014. As a result, the island-wide vacancy rate of retail space rose to 5.8% at the end of 1st Quarter 2014, from 4.5% at the end of 4th Quarter 2013.
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