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Prime office rents: No reprieve in sight for 2017

Analysts expect rental rates to drop by up to 10 per cent next year but capital values may still hold up

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Published Thu, Dec 22, 2016 · 09:50 PM

    Singapore

    THE "flight-to-new projects" - a term used by the office leasing sector to describe the trend of tenants swarming into swanky new office projects - is set to continue next year as companies capitalise on softening rents to upgrade their working spaces.

    This merry-go-round, however, is causing pain to landlords of older buildings in the Central Business District (CBD). Based on analysts' projections, overall prime CBD office rents may fall by up to 10 per cent next year.

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