Singapore’s Mall Vacancies Jump to Highest Level in a Decade
- Office vacancies also climb in quarter to a four-year high
- Residential rentals fall to lowest level since June 2010
The Ion Orchard shopping mall on Orchard Road in Singapore.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
Singapore mall vacancies rose to the highest level in a decade in the third quarter as an oversupply of shop spaces added to muted spending by shoppers.
A gauge of mall vacancies rose 0.6 percent to 8.4 percent in the three months ended Sept. 30, even as rents declined 1.5 percent in the quarter, data from the Urban Redevelopment Authority showed Friday. That’s the highest vacancy rate since Sept. 2006, according to data compiled by Bloomberg.