Figures
Asia Pacific Retail Trends Q3 2024
October 10, 2024 5 Minute Read
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- While the Australian CBD market continues to favour tenants, the pendulum could swing in favour of landlords in the next 12-18 months as vacancy has been contracting since 2023. However, demand for secondary space may remain sluggish for longer.
- Demand in India is holding firm despite slower retail sales, but supply remains tight. Mainstream and established brands are keen to expand but weaker sales and a lack of space availability are preventing them from doing so. Much of current leasing activity is being driven by new market entrants and up-and-coming local brands.
- Singapore continues to witness a two-tiered market, with robust demand downtown but slower activity in secondary areas. F&B brands including Chinese groups remain key drivers of leasing demand and are placing a stronger focus on space optimisation and opening smaller sized units in multiple strategic locations. Demand from luxury retailers remains steady, with malls increasingly allocating space to this segment.
