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Average prime retail rents in all locations declined in the second quarter.
This chart from Knight Frank shows that island-wide prime retail rents fell 5.4% YoY to an average $28.90 per square-foot per month (psf pm) in Q2.
Average prime retail rents in all locations declined in the second quarter, as many retailers were unable to cope with the effects of the pandemic and exited the market, despite rental waivers granted by the respective landlords, the report said.
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