• The government’s introduction of consumption coupons underpinned stronger retail sales growth in August, reversing the trend of slower m-o-m growth witnessed since the start of the year.
  • Leasing sentiment improved over the quarter, with demand being driven by casual wear, sporting goods and F&B retailers.
  • Central saw several major commitments by a range of retail trades and for a variety of lease durations and purposes.
  • The expiry of several short-term leases ensured overall vacancy edged up in Q3 2021.
  • Both high street shop and shopping centre rents were stable over the quarter.
  • While rents are expected to rise steadily in the coming months, a sharp uptick is not expected until luxury and other premium retailers resume expansion along high streets.
  • Stronger rental growth will materialise in 2022 should cross-border travel normalise by early next year.