In Singapore there are indicators that the rental gap between suburban malls and orchard malls. Cairnhill Nine would seem that is a trend that has already begun, and some predict will continue to happen for a while. There are some that believe that such a narrowing is a good, whilst others may not.
Throughout the course of 2016 real estate experts that the trend of the Capitaland rental gap between suburban and orchard malls near Cairnhill Nine Capitaland will continue to become narrower. It was noted by property consultants that the relative strength of the suburban malls in comparison to the orchard malls actually results from them having a larger and more locally based catchment area for customers. Suburban malls also have the advantage that they have a lower reliance on the spending habits and levels of foreign tourists (or the none spending habits of foreigners as the case might be). Tourist dollars, if there are enough of them used to markedly increase the income and the profits of the orchard malls.
Ngee Ann City Rentals near Cairnhill
In recent years in Singapore the levels of tourist spending have dealt a blow from limited tourist arrivals, not to mention Capitaland competition from other major cities around the world to have visitors spend their money in those places instead. With Somerset Cairnhill Nine orchard malls earning many millions a year less from tourists means that their income is much closer in terms of rental payments to that of the suburban malls.
The Cairnhill Nine urban malls have experienced the rental gap between themselves and orchard malls narrow mainly as a result of the income for for the latter declining faster than their own decrease. Perhaps if given the choice the urban malls would have preferred for the gap to have narrowed because their income had increased faster than that for the orchard malls.
Cairnhill Nine Condo Ngee Ann City
The rental revenue has actually declined this year, as malls are finding the economic climate tough going, as have many other businesses and retailers in Singapore. In the Central Area indeed the Urban Redevelopment Authority (URA) noted a 2.9% decline in the retail rental index during the first three quarters of this year. The decline in the Fringe Area was a little less, some 2.4% over the course of the same period. These figures help to demonstrate why the suburban malls are experiencing a narrowing of the rental gap with the orchard malls.
However the URA does not issue or compare data on all of the Cairnhill Nine Cairnhill Condo shopping malls within the Fringe Area. More specifically the URA does not track any of the shopping malls that are located furthest away from Singapore city, namely those malls sited at Jurong, Tampines, as well as Yishun. The URA does provide the rental data on these malls but only on its website. So if you visit the website you can still gain all the relevant information concerning retail unit size, the floor level, and the district should you need to do so.