S'pore office market fundamentals top in Asia-Pac

Singapore

SINGAPORE offers the strongest office market fundamentals for Grade A office space among core Asia-Pacific markets, in terms of rental growth as well as low vacancies for next year, according to Cushman & Wakefield.

This follows a strong showing by the Republic this year.

Cushman's 10.88 per cent estimated growth in its average Grade A office rental value this year is the highest among the 13 core markets in the region tracked by the property consulting group, ahead of gains of 7.69 per cent for Tokyo and 3.02 per cent for Hong Kong, among the major financial centres in Asia-Pacific.

Cushman includes prime space in its Grade A office basket.

The increases were ranked based on rents in local currencies. For Singapore, Cushman estimates the average Grade A monthly rental value as at end-2014 at S$10.45 per squar…