The recovering economy and improving labour market conditions underpinned stronger leasing momentum in Q2 2021. The gradually increasing vaccination rate also supported more upbeat retail market sentiment.
Leasing activity continued to pick up, with several retailers committing to sizable leases of over 10,000 sq. ft., enhancing occupancy rates in core areas.
F&B related retailers accounted for over 40% of leasing volume in core areas in Q2 2021. Casual wear retailers were also active.
Landlords are regaining confidence amid the market recovery. High-street shop rents registered the first gains since Q2 2018.