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2018 CBD Grade A office rents post highest increase since 2010: Colliers

They increase by 2.4% to S$9.43 psf pm from Q3 to Q4 2018, bringing full-year rental growth to 14.9%

Singapore

TIGHTENING vacancies have driven up Singapore prime office rents in 2018. This saw average CBD (Central Business District) Grade A office rents rising by 2.4 per cent to S$9.43 per square foot per month (psf pm) from third quarter to fourth quarter 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 following the Global Financial Crisis, said the property consulting group.

Shenton Way, Tanjong Pagar and Beach Road markets saw the largest rental increases in 2018, driven by the premium new builds such as Guoco Tower and Duo. These buildings - which were completed...

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