
Chart of the Day: Prime rents in Orchard slip by a further 0.2% in Q1
Rents start at around $40.13 psf.
The past quarter saw retail rents of prime, ground floor spaces in prominent shopping malls along Orchard Road and in Regional Centres continue their downtrend.
According to this chart from Colliers, average monthly gross retail rent in the Orchard Road fell 0.2% to $40.13 psf, compared to $40.22 psf in the past quarter.
"At the prime shopping malls along Orchard Road, while there were still pockets of vacancy, some tenants took this opportunity to upgrade to better locations or larger space and mall operators rejuvenate their tenant mix," Colliers said.