Chart of the Day: Finally, this graph ends the question about mall glut in Singapore

No, there aren't enough malls to shop in.

Singapore as a shopping haven is unabashedly luxurious and goes a bit over the top at times. But are malls getting over populous?

According to CIMB, with a growing supply of mall space in Singapore – averaging c.500,000 sq ft per year since 2009 – one has to wonder if there are too many malls in Singapore.

Here's more from CIMB:

However, our recent data revealed that the majority of the new supply over the past few years was mainly new malls in the suburban parts of the island.

Currently, Singapore offers 4.6 sq ft per capita of suburban retail space (6.9 sq ft if prime malls are included), a level that is significantly lower than most developed cities around the world (11.8-45.2 sq ft per capita of retail space).

Although there is an estimated upcoming supply of c.2.6m sq ft in 2014, the level of pre-commitment (80-100%) for these new malls is expected to provide mall owners with the ability to hold their rental rates steady.