Prime retail rental fees in country and Orchard Road places edged up by 0.7% and also 0.4% respectively in 1Q2022, according to a record 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 marginally boosted by 0.1% q-o-q.

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Colliers expects a more buoyant retail outlook and also renter sales on the back of boosting customer tramp.

” With tramp recouping highly in the Orchard Road purchasing belt and the CBD, as well as customer traffic in the suburbs staying resilient, this plainly shows that the bricks-and-mortar store is still appropriate, even as online buying gains grip,” claims Dickson Koh, associate director of study at Colliers Singapore.

Looking ahead, Colliers anticipates a more buoyant retail expectation and renter sales on the back of enhancing consumer footfall as well as the training of travel aesthetics and also safe administration actions. “This augurs well for retail operators, especially those located in the Downtown Core as well as Orchard,” states Koh.

He expects stores will be more bullish regarding their expansion plans, which would provide more support to a stronger leasing demand. Reduced job rates amid restricted new supply ought to also support a gradual healing of retail leas from 2H2022. Relentless inflationary pressures as well as workforce lacks may temper growth.

He expects sellers will be more bullish about their expansion strategies, which would offer more support to a more powerful leasing need. Lower job prices in the middle of limited new supply need to also support a steady recuperation of retail rental fees from 2H2022. Persistent inflationary pressures and manpower lacks may toughen up development.