# Singapore retail rents expected to rise up to 2% this year

- **Source:** Real Estate Asia
- **Published:** 2026-07-06T23:02:19.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-retail/news/singapore-retail-rents-expected-rise-2-year
- **Topics:** Commercial & Industrial, Government & Policy, Transactions & Deals

## Featured rationale

Stable employment and tourism may support modest rental gains, while inflation and outbound spending could keep landlords focused on tenant mix and experiential offerings.

## AI summary

Savills forecasts Singapore rents for both Orchard Road and suburban malls will increase by up to 2% in 2026 despite emerging downside risks.

## Original article

Geopolitical risks and cross-border spending are weighing on the retail outlook.

Singapore's retail market is expected to remain supported by a resilient labour market, although downside risks are beginning to emerge, according to Savills.

The consultancy said potential inflationary pressures linked to the ongoing Middle East conflict could weaken consumer purchasing power and weigh on discretionary spending later in the year, depending on the duration of geopolitical tensions and the broader economic response.

Cross-border spending continues to pressure some retail segments, although Savills expects the upcoming Johor Bahru-Singapore Rapid Transit System Link to have only a limited additional impact given the already high level of travel integration between the two markets.

The firm added that strengthening of the Malaysian ringgit and rising prices in Malaysia could help reduce outbound spending leakage over time, while continued tourist arrivals should provide support for local retail sales.

Overall, Savills said Singapore's retail market remains underpinned by stable fundamentals, although rental growth is likely to remain modest as landlords focus on tenant mix optimisation and experiential offerings to drive traffic. The consultancy forecasts rents for both Orchard Road and suburban malls will increase by up to 2% in 2026.

## Chinese translation

> Translation model: grok

### 新加坡零售租金今年料最多上涨2%

据第一太平戴维斯，新加坡零售市场料继续获韧性劳动力市场支撑，但下行风险正开始显现

地缘政治风险与跨境消费正拖累零售前景。

据第一太平戴维斯（Savills），新加坡零售市场料继续获韧性劳动力市场支撑，但下行风险正开始显现。

该咨询机构表示，与中东冲突相关的潜在通胀压力，可能削弱消费者购买力，并在年内晚些时候拖累非必需消费，具体取决于地缘政治紧张持续多久以及更广泛的经济应对。

跨境消费持续对部分零售细分领域构成压力，但Savills预计即将开通的新山—新加坡捷运系统衔接线（RTS Link）额外影响有限，因两地出行一体化程度本已很高。

该机构补充称，马来西亚令吉走强与马来西亚物价上升，长期或有助于减少出境消费外流，而持续的旅客到访应能支撑本地零售销售。

总体而言，Savills表示新加坡零售市场仍有稳定基本面支撑，但租金增长料保持温和，因业主聚焦租户组合优化与体验式业态以带动客流。该机构预测，乌节路与市郊商场租金在2026年将最多上涨2%。