Orchard Road retail rents expected to rise as tourism picks up

Jewel Stolarchuk
Thu, 31 Aug 2023 06:30:50 +0000
Business, SG Economy, Singapore News, orchard road, rents, tourism

SINGAPORE: Orchard Road retail rents are projected to experience a significant increase of up to 6 per cent year-on-year (YoY) in 2023, while rents in the Suburban Area are expected to maintain a steady growth rate of 1-2 per cent YoY as previously forecasted, according to property consultancy Savills. The demand for retail spaces, particularly …