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Asia Pacific Retail Rents Remain Static as Weaker Demand Q3 2012

By on Nov 16, 2012 in Research

RENTS REMAIN STATIC AS WEAKER DEMAND AND SLOWER RETAIL SALES FORCE LANDLORDS TO TURN MORE FLEXIBLE

The CBRE Asia Pacific Prime Rental Index increased by 0.7% in Q3 2012, a rate marginally above the 0.68% recorded in Q2 2012 and the fourth consecutive quarter in which growth has remained below 1.0%. Landlords turned more flexible when conducting lease negotiations as retail sales and consumer confidence continued to weaken in key markets across the region.

Nominal retail sales in major Asia Pacific markets recorded weaker growth in Q3 2012 as consumer confidence deteriorated. In China retail spending was steady but the rate of growth over the first nine months of the year moderated on a y-o-y basis. Retail sales in Hong Kong have slowed significantly over the course of the year as spending from mainland Chinese tourists has weaken noticeably. Singapore and South Korea also reported weaker retail sales growth.

This is an extract from CBRE‘s Asia Pacific Retail MarketView Q3 2012.  To read the full document please click here.

Chris Hardy has extensive research experience. Chris specializes in property research internationally writing for CBRE specifically about global issues and trends.

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