Two-tier office rental market likely: Colliers
Owners of older buildings may offer better incentives or lower rents to retain tenants drawn to new buildings
Add BT as a preferred source
Singapore
A TWO-tier office rental market may be ahead, said Colliers International in a report issued on Wednesday, as landlords of older buildings turn to better incentives or more competitive rents upon renewal in an attempt to retain tenants.
"As occupiers move into newly-completed office buildings, demand for office space in existing developments in the CBD is likely to be supported by a flight to quality effect where office occupiers take the opportunity to upgrade from older buildings," said Calvin Yeo, deputy managing director of Colliers International.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
