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Singapore office leasing momentum to slow on economy's easing: CGS-CIMB

Overall office rents seen falling 5-10% this year, worse than previous forecast of 0-5% decline

Analyst Lock Mun Yee expects an annual net absorption rate of 500,000-700,000 sq ft of office space for the year, lower than 2019's 1.7 million sq ft.


LEASING momentum in the office rental sector is expected to slow due to a weaker macroeconomic backdrop, even as viewing activities resume in Phase Two of Singapore's "circuit-breaker" easing, said CGS-CIMB.

Analyst Lock Mun Yee forecast overall office rents to decline...

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