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Singapore office rents rise 1.6% in Q1, prices climb 4.4%: URA

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Fiona Lam

Fiona Lam

Published Fri, Apr 22, 2022 · 09:15 AM
    • As at the end of March, there was a total supply of about 834,000 sq m in gross floor area of office space in the pipeline islandwide.
    • As at the end of March, there was a total supply of about 834,000 sq m in gross floor area of office space in the pipeline islandwide. ST FILE PHOTO

    ANALYSTS foresee further rental growth in the central business district (CBD) office market, after rents in Singapore’s central region rose at a faster pace in Q1 2022 amid the flight to quality, back-to-office momentum, tight supply, and broad-based economic recovery.

    Meanwhile, prices of office space in Singapore’s central region turned the corner in the latest quarter, reflecting robust interest from investors. Demand from buyers is also expected to grow for the rest of this year.

    Leasing enquiries may increase further as workplace measures are further relaxed, said Tricia Song, head of research for South-east Asia at CBRE.

    Singapore propertySingapore officesURA

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