Chart of the Day: Where is retail space supply heading?

Over 234,000 sqm is available in 2018.

As the current retail market is currently experiencing headwinds, a look on the pipeline supply is just as timely. 

According to the latest figures from Urban Redevelopment Authority, The amount of occupied retail space decreased by 26,000 sq m in 3Q16, compared to the increase of 1,000 sq m in the previous quarter. 

This came as stock of retail space increased by 17,000 sq m, compared to the increase of 29,000 sq m in the previous quarter.

"As a result, the island-wide vacancy rate of retail space rose to 8.4% at the end of 3rd quarter 2016, from 7.8% at the end of the previous quarter," URA said

As projected, over 182, 000 sqm of space will be available in 2017. This will balloon over 234,000 sqm in 2018.

If retail market continue to slack, this would mean higher space vacancy rates in the next two years.