Commercial Retail

This is the highest level seen during the pandemic so far.

Headwinds are still present but some investors are bullish about the sector’s recovery.

JLL provides a lowdown on different subsectors’ expected performances in 2022.

This is three times higher than 2020 levels.

Rents in major shopping malls also declined 5.1%.

This is the lowest vacancy rate since Q3 2015.

Completion levels are bound to remain considerably low until 2025.

This will be from four projects that are due to come online. 

A total of 40,800 sqm of new prime retail space is also expected to be completed.

Rents slipped 1% y-o-y in 4Q21.

Rents are likely to continue their recovery momentum this year.

Blame it on lack of new supply and low vacancy in quality malls. 

This is the highest figure in the last six quarters.

Landlords are likely to bear the brunt of having more vacant spaces yet again.

The vacancy rate in Gangnam was at 36.1% in Q4 2021.

Restaurants with over 20,000 sq ft of space could be at risk