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Office rental decline accelerates

Analysts see vacancy rates soaring with more office completions soon

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TENANT-FAVOURABLE MARKET: As at the end of the first quarter of 2016, there was a total pipeline supply of slightly more than one million square metres of gross floor area of office space.

Singapore

THE Urban Redevelopment Authority's (URA) index for office rentals in Singapore eased 2.1 per cent quarter-on-quarter in the first quarter of this year - a steeper drop compared with the 1.8 per cent decline in Q4 last year.

From its recent peak in Q1 2015, the index has