Grade A office rents 'to hit six-year high'

[SINGAPORE] Singapore Grade A office rents are expected to rise to their highest levels since 2008 by year's end, commercial real-estate services firm Cushman & Wakefield predicted on Wednesday.

This comes as average Grade A overall rents have already risen to their highest in three years to S$10.20 per square foot per month - 2 per cent higher than a quarter ago, and 9.9 per cent stronger than a year ago.

The third quarter became the sixth consecutive quarter of rental increases, a result of the increasing scarcity of Grade A space in areas such as Marina Bay and Raffles Place.