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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

Published Tue, Apr 7, 2020 · 09:50 PM

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 per square foot per month (psf pm) during the first three months of 2020 over the last quarter of 2019," Cushman & Wakefield said in a press statement on Tuesday.

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