Tourism outlook and expansions boost Singapore's retail property market

In Q3 2024, the island-wide retail vacancy rate fell to its lowest level since Q3 2012.

The subdued retail and F&B sales failed to deter occupier demand in the retail property market with continued expansions from diverse trade groups.

According to the JLL Retail Q3 2024 report, food & beverage, health & wellness, and fashion and active-lifestyle & sports-related operations led expansions for the period.

JLL said a positive tourism outlook will spur further retail expansion in Singapore, keep vacancy rates low amidst moderated supply conditions, and support rental growth.

In Q3, the island-wide vacancy rate fell to its lowest rate since Q3 2012. Meanwhile, rent growth and marginal yield compression fueled the QoQ capital value growth of prime floor space across three sub-markets in Q3 2024.

Follow the link for more news on

JLL

Also Read

What are the two Ps driving Gen Z’s spending habits today?

Dasin Retail Trust ends management deals for Shunde, Tanbei metro malls

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

19 hours ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2