Singapore retail rental market outlook 2026: Prime retail rents could rise by 4%

Despite an increase in international visitor arrivals, rental growth for prime retail properties in Singapore is expected to be measured in 2026, in an uncertain geopolitical environment. According to Knight Frank Singapore’s 1Q2026 Retail Market Report, 12.9 million international tourists arrived, resulting in an increase of $23.9 billion in tourism receipts from January to September 2025. For the whole of 2025, the consultancy expects visitor spending to exceed the $29.8 billion that was recorded in 2024. In 1Q2026, Singapore welcomed 4.4 million international tourists, which is a 9.8% q-o-q increase compared to arrivals in 4Q2025, and 2.8% higher than visitor arrivals in 1Q2025. As Singapore strengthens its position as a regional entertainment and events hub, the positive impact on tourist numbers is likely to continue, which in turn impacts key retail sales and rentals. Despite cost pressures from geopolitical shocks, Singapore’s prime retail properties could retain their competitive edge if landlords and retailers are able to work…