Shop space vacancy rate declined to 5.2% in 4Q12

Prices also slipped 0.2%.

According to URA, rentals for shop space increased by 0.2% in 4th Quarter 2012, after a decline of 0.3% in 3rd Quarter 2012. For the year 2012 as a whole, rentals of shop space had declined by 0.3%, compared with the increase of 2.6% in 2011.

Prices of shop space declined by 0.2% in 4th Quarter 2012, after a 1.1% increase registered in the previous quarter.

As at the end of 4th Quarter 2012, there was a total supply of 621,000 sqm GFA of shop space from projects in the pipeline.

The amount of occupied shop space increased by 31,000 sqm (nett) in 4th Quarter 2012. On the other hand, the stock of shop space increased by 2,000 sqm (nett) in 4th Quarter 2012. As a result, the island-wide vacancy rate of shop space declined to 5.2% as at the end of 4th Quarter 2012, from 6.1% as at the end of 3rd Quarter 2012.