Two-tier office rental market likely: Colliers
Owners of older buildings may offer better incentives or lower rents to retain tenants drawn to new buildings
Singapore
A TWO-tier office rental market may be ahead, said Colliers International in a report issued on Wednesday, as landlords of older buildings turn to better incentives or more competitive rents upon renewal in an attempt to retain tenants.
"As occupiers move into newly-completed office buildings, demand for office space in existing developments in the CBD is likely to be supported by a flight to quality effect where office occupiers take the opportunity to upgrade from older buildings," said Calvin Yeo, deputy managing director of Colliers International.
Already, a series of relocations has happened, as the completion of CapitaGreen in Q4 2014 a…
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