Prime retail rents to rise up to 4% in 2024: Knight Frank

Improving tourist arrivals and tight occupancy in prime locations will support the sector.

Continued improvement of tourist arrivals in Singapore will be a positive for the city’s retail property sector, reports Knight Frank.

Prime retail rents are expected to increase between 2% to 4% in 2024, supported by ongoing normalisation of travel patterns, return-to-office momentum, and other post-pandemic recreational activities.

Tight occupancy levels continue to prevail in popular malls both in Orchard Road as well as suburban areas, the property firm said. These healthy levels are expeted to be maintained throughout 2024.

Many existing retailers are als oreportedly scouting new locations for expansion, Knight Frank added.

“At the same time, international brands look to set up new presence in Singapore to tap into the growing affluence and consumer strength of middle-class societies in Southeast Asia,” Knight Frank wrote in its latest commentary report.

Follow the link for more news on

Knight Frank

singapore prime retail rents

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

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