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Singapore office rents to decline amid Covid-19 pandemic

Negative impact may be more evident in second quarter this year, if demand for space falls further

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Grade A CBD rents may moderate by about 10 per cent in 2020, with a further decline in 2021, says Cushman & Wakefield.

Singapore

MARKET watchers are expecting office rents in Singapore to decline in the coming months, amid the coronavirus pandemic that is showing no signs of abating.

"The office market has peaked, with Grade A central business district (CBD) rents falling by 0.5 per cent to S$10.61...

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