Singapore CBD Grade A office rents hit 10-year high: Colliers

Singapore

GRADE A office rents in Singapore's central business district (CBD) rose for the eighth straight quarter, hitting a 10-year high at S$9.93 per square foot per month (psf pm) in the second quarter. This is up 12.6 per cent from a year ago, according to Colliers Research data.

Out of the six office micro-markets tracked, rental growth remained the strongest in the Beach Road or Bugis area, rising 18 per cent from a year ago, largely due to tight vacancies in office buildings in the area. Average gross effective rents were at S$9.18 psf pm.