OFFICE rents in Singapore's central business district (CBD) fell by 3.9 per cent in the first quarter of this year from the previous quarter - their third straight quarterly decline - as concerns over a global economic slowdown dampened demand for office space. Office rents fell to S$9.90 per square foot (psf) per month in Q1 2016, according to DTZ Southeast Asia, which is expecting them to continue...
Office Rental Market
The supply of new office space in the central business district (CBD) is likely to outstrip demand, giving tenants more options and forcing landlords to reduce rents amid global headwinds, according to analysts. Property services firm Century 21 has said that Singapore, being such an open economy, will be hard hit by global economic conditions such as the slowdown in China and the turmoil in stock and...
With no new major buildings yet completed, supply of office space continues to be tight in the Central Business District (CBD). In the wake of unceasing uncertainties in the wider economy and high office rentals, more companies are adopting a cautious business approach, gravitating towards cheaper premises like decentralised office buildings, industrial properties, business parks and disused State...