Is there a reduced demand for large retail spaces in Singapore

Despite some challenges, the demand for retail spaces in Singapore does not appear to be significantly reduced, especially in certain submarkets. Here are some key points:

- The City Hall/Marina Centre submarket has seen strong demand for retail spaces in Q1 2025.
- The Rest of Central area experienced positive net absorption for the third consecutive quarter, although this was somewhat offset by an increase in stock and a slight rise in vacancy rates.
- The outside central region (OCR) submarket, while seeing negative net absorption in Q1 2025, still has the lowest vacancy rates across all submarkets, indicating a resilient local catchment.

Additionally, the retail sector in Singapore is expected to rebound in 2025, driven by new attractions, government initiatives, and the recovery in inbound Chinese tourist volume, which should support demand for retail spaces.

Overall, while there may be some fluctuations in different submarkets, the broader outlook suggests that demand for retail spaces remains relatively strong.