Singapore Office Rental

Grade A office leasing in Singapore ‘sluggish’ in Q3: Cushman & Wakefield

Leasing activity for Grade A offices in Singapore came to a halt during the "circuit-breaker" period and remained sluggish during the third quarter this year, according to a press statement by Cushman & Wakefield (C&W) on Tuesday. In the face of business uncertainty, tenants with immediate lease expiries are seeking short-term renewals. And with office space underutilised as work from home remains the...

Office rents flat in Q2, but vacancy rises to 12.1%

Net absorption of office space in Singapore shrank by a record 55,000 square metres of net lettable area in the second quarter of this year. Meanwhile, the island-wide office vacancy rate climbed to 12.1 per cent from 11 per cent at the end of Q1 2020, according to data from the Urban Redevelopment Authority. There is no denying that office demand has weakened amid the recession triggered by...

Singapore office prices fall 3.9% q-o-q in Q3; vacancy rate eases to 10.6%: URA

Prices of office space in Singapore's central region decreased by 3.9 per cent in the third quarter, compared with the 0.9 per cent increase in the previous quarter, according to the latest data from the Urban Redevelopment Authority (URA). URA's rental index of office space in the central region declined by 0.6 per cent in Q3, versus a 1.3 per cent increase in the prior quarter. As at the end of Q3...

Singapore office rents rise 1.3% q-o-q in Q2; vacancy rates fall to 11.5%: URA

Rents of office space in the central region of Singapore rose 1.3 per cent in the second quarter of this year over the previous three months. This contrasts with the drop of 0.6 per cent in the first quarter, according to figures from the Urban Redevelopment Authority (URA) released on Friday. URA's price index of office space in the central region rose 0.9 per cent in second quarter 2019, a slower pace...

Singapore CBD Grade A office rents hit 10-year high: Colliers

Grade A office rents in Singapore’s central business district (CBD) rose for the eighth straight quarter, hitting a 10-year high at S$9.93 per square foot per month (psf pm). This is up 12.6 per cent from a year ago, according to Colliers Research data. Out of the six office micro-markets tracked, rental growth remained the strong in the Beach Road or Bugis area, rising 18 per cent from a year ago,...

Singapore CBD Grade A office rents to climb 8% in 2019: Colliers

Rentals for Grade A office buildings in Singapore's Central Business District (CBD) are expected to rise by 8 per cent this year, and 5 per cent in 2020, amid tight supply and high pre-commitments, according to a report by Colliers International. The real estate services and investment management firm also expects new supply in 2019-2021 to average 614,000 sq ft (57,000 sq m) per annum, or 2 per cent of...

Singapore CBD Grade A office rents in 2018 post highest annual growth since 2010: Colliers

Tightening vacancies have driven up Singapore prime office rents in 2018. This saw average CBD (central business district) Grade A office rent rising by 2.4 per cent to S$9.43 per square foot per month (psf pm) from Q3 to Q4 2018, bringing the full year rental growth to 14.9 per cent, Colliers International's data showed. This is the fastest annual growth since 2010, where rents rebounded by 22 per cent...

Singapore office rents ease to 0.5% rise in Q4; vacancy rate climbs to 12.1%

Rents of office space in the central region of Singapore rose by 0.5 per cent in the fourth quarter of 2018 over the previous three months - a slower pace of gain compared with the 2.5 per cent rise in the third quarter, figures from the Urban Redevelopment Authority (URA) showed on Friday. For the whole of 2018, the rental index rose 7.4 per cent, compared with the increase of 0.4 per cent in...

Tapering Singapore office supply gives landlords room to increase rents

Singapore’s office market is in the early stages of a recovery as tapering office supply and strong pre-commitment levels have caused the office vacancy rate to decline, offering landlords higher bargaining power to increase rents. “Office rent is expected to increase by 20 to 25 per cent between 2018 and 2020, of which 12 to 16 per cent is expected in 2018,” said Ms Regina Lim, head of capital...

Great Eastern, NTUC Income sign up at Paya Lebar Quarter

Homegrown insurance bigwigs Great Eastern and NTUC Income have leased office space at Paya Lebar Quarter (PLQ). According to Business Times, Great Eastern - a listed subsidiary of OCBC, has leased about 125,000 sq ft on four floors of the 13-storey Tower 3 in the project. This is the same tower where SMRT has leased 97,000 sq ft (three levels) and property consulting group CBRE, 31,000 sq ft (one...

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