Tourism recovery drives 0.5% rise in Orchard retail rents in Q3

Suburban prime rents however outperformed city rents.

Tourism recovery has pushed prime retail rents in Singapore's shopping belt and other city areas up in Q3 2024.

Data from Cushman & Wakefield showed that rents in Orchard rose by 0.5% quarter-on-quarter (QoQ), while other city areas saw a 0.7% QoQ increase.

Suburban prime rents, however, outperformed prime retail rents, recording stronger growth of 0.9% QoQ.

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