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Retail property rents may take hit this year amid outbreak: Study
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People seen with masks in a shopping mall in Singapore last Friday. The coronavirus outbreak is likely to hit consumer spending hard as it deters shoppers from frequenting malls and restaurants. Real estate consultancy CBRE Research expects prime floor rents to decline in the wake of the outbreak. It added that the gap in mall and floor rents between secondary and prime retail properties will widen further.
PHOTO: EPA-EFE
Landlords of retail property might have to take a hit on rents this year as the virus deters shoppers from frequenting malls and restaurants.
Real estate consultancy CBRE Research expects prime floor rents to decline in the wake of the outbreak.
