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Singapore’s prime office rents in Q1 weighed down by global retrenchments, trade tensions

The marginal quarterly increase of 0.5% follows that of Q4, which was 0.4%

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Jessie Lim

Jessie Lim

Published Fri, Mar 28, 2025 · 06:08 PM
    • Landlords continue to prioritise building occupancies amid economic uncertainty that has been amplified by global trade tariffs.
    • Landlords continue to prioritise building occupancies amid economic uncertainty that has been amplified by global trade tariffs. PHOTO: YEN MENG JIIN, BT

    [SINGAPORE] Grade A Central Business District (CBD) rents flatlined for the fourth consecutive quarter as global volatility and trade tensions keep multinational corporations (MNCs) in a holding pattern.

    In the first quarter of 2025, rents inched up 0.5 per cent to S$11.60 per square foot per month (psf pm), JLL Research indicated. 

    The marginal quarterly increase followed that of Q4 2024, which was 0.4 per cent. Rents were flat in Q3 and rose 0.7 per cent in Q2. 

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