Steep rents push Singapore bridal shops into industrial parks

(Reuters) – Far from the madding crowds of Singapore’s glitzy shopping malls, Cynthia Neo runs a bridal boutique tucked away in a nondescript industrial building in an old housing estate, pushed off the high street by pricey retail rents.

The owner of J&C Bridal Collections pays one quarter the rent she once shelled out for a shop in the heart of Chinatown, where a string of restaurants, hotels and retail shops meant a steady stream of shoppers.

But rising rents may be creeping into the industrial parks too. Industrial property prices have surged 27 percent this year after a government crackdown on residential investment pushed speculators into factories and warehouses.

See on www.reuters.com

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