Central Region office rent index dips 2.6% in Q2
URA's Central Region retail rental index slips 0.5% after easing 0.3% in Q1
Singapore
THE Urban Redevelopment Authority's Central Region office rental index slid 2.6 per cent quarter on quarter in the second quarter of this year, the first drop after eight consecutive quarterly increases. In Q1, the index had appreciated 0.6 per cent.
The Q2 fall was the steepest drop in the index since the 3.3 per cent decline in Q4 2009, according to Cushman & Wakefield research director Christine Li. "The moderation may be attributed to Singapore's lacklustre second quarter GDP growth and supply overhang of nearly four million sq ft of prime office space scheduled for completion in 2016."
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%