SGX Market News : Singapore commercial space prices, rentals fall further in Q2 .

Costs and rentals of business space in Singapore fell further in the second quarter of this current year, insights from the Urban Redevelopment Authority on Friday appeared. 

Costs of office space diminished by 1.5 for every penny in Q2, contrasted with a 0.3 for each penny decrease in the past quarter. 

Rentals of office space fell by 3.5 for every penny in the second quarter, contrasted with a decay of 2.1 for each penny in the past quarter. 

Extensive opportunity rate of office space toward the end of Q2 plunged to 9.1 for each penny, from 9.2 for each penny toward the end of Q1. 

As toward the end of Q2, there was an aggregate supply of around 1.022 million square meters (sq m) of gross floor range (GFA) of office space in the pipeline. 

On the retail front, costs of retail space diminished by 3.1 for every penny contrasted with a 1.9 for each penny fall in the past quarter. 

Rentals of retail space diminished by 3.9 for each penny, contrasted with a reduction of 1.9 for every penny in the past quarter. 

All inclusive opening rate of retail space rose to 7.8 for each penny toward the end of Q2, from 7.3 for every penny toward the end of the past quarter. 

As at end-June, there was an aggregate supply of 734,000 sq m of GFA of retail space from undertakings in the pipeline.

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