RETAIL rents in Singapore rose 0.6 per cent in the second quarter, against a decline of 0.3 per cent in Q1, the latest property indices released by Urban Redevelopment Authority on Friday morning showed.
Prices of retail space dipped 0.3 per cent quarter-on-quarter in Q2 2014, after remaining unchanged in the first three months of this year.
The islandwide retail vacancy rate stood at 5.9 per cent at the end of Q2 2014, slightly higher than the 5.8 per cent at the end of Q1.
By the end of Q2 2014, there was total supply of 879,000 sq m gross floor area of retail space from projects in the pipeline.
OFFICE rents in Singapore continued to rise, climbing 2.8 per cent in the second quarter following the 2.4 per cent increase in the first quarter of this year.
According to data released by the Urban Redevelopment Authority (URA) on Friday morning, prices of office space remained unchanged in the second quarter compared to the preceding quarter, which saw a 0.5 per cent rise.
The island-wide vacancy rate of office space at the end of Q2 fell to 9.6 per cent, from 10.0 per cent at the end of Q1 2014.
The amount of occupied office space rose 22,000 sq m (nett) in Q2 2014, compared to the 6,000 sq m (nett) rise in Q1.