CBRE: Retail rents in Melbourne up 1.5% in 2016

Realopedia Global Real Estate Portal

In its Asia Pacific Market Outlook 2016, CBRE highlighted how trends for retail property rents vary quite markedly across the region. CBRE grouped markets in four categories: Growth Slowing; Steady Growth; Peaking and; Continued Decline. Melbourne is included in the second of these. CBRE is looking for retail rents in Melbourne to rise by 1.5% in 2016, having risen by about 1% in 2016. CBRE estimates that the retail development pipeline for Melbourne over 2016, 2017 and 2018 includes about 3mn square feet of space.

Source : CBRE/ February 2016/Melbourne/RET