Question
Mr Yee Jenn Jong: To ask the Minister for Trade and Industry whether the Ministry will provide a national data bank on commercial rentals including effective rents with variable components and, if so, when.
Oral Answer by Mr. Teo Ser Luck, Minister of State for Trade and Industry
1. Since April 2014, the Government has released more detailed rental data on retail and industrial space through URA and JTC respectively. URA has released median rentals of retail space by street names, while JTC has released average rentals of Multiple-User Factory space by planning regions. All this additional information is available on the URA and JTC websites.
2. The Government has announced that we will work towards publishing more detailed rental data for retail space by the end of 2014. This will add to the existing information available on the rental market and help businesses make more informed decisions during lease negotiations.