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Record low vacancy pushes Singapore office rents up in Q1, tilts market in landlords’ favour

Global uncertainty and rising business costs may temper near-term demand, but scarce supply keeps rents stable and Reits resilient

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Chong Xin Wei

Chong Xin Wei

Published Tue, Apr 7, 2026 · 07:00 AM
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    • Analysts say core CBD properties in Raffles Place and Marina Bay have outperformed other areas, delivering double-digit positive rental reversion.
    • Analysts say core CBD properties in Raffles Place and Marina Bay have outperformed other areas, delivering double-digit positive rental reversion. PHOTO: BT FILE

    [SINGAPORE] Singapore’s office market tightened further in the first quarter of 2026, with vacancy rates falling to multi-year lows and rents extending their growth streak, supporting landlord pricing power.

    While current market dynamics point to near-term resilience, Singapore’s continually rising business costs and geopolitical risks could weigh on tenant demand in the future.

    Rents for core CBD Grade A office spaces rose 0.8 per cent quarter on quarter to S$12.40 per square foot (psf) per month, in their fifth consecutive quarter of growth, according to CBRE data.

    Singapore officesSingapore commercial propertySingapore REITs

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