Singapore office rents up 3.3% in Q1 2021
Office rental market could bottom out this year before starting to recover in 2022: analysts
Singapore
RENTALS of office space in Singapore's central region turned a corner in the first quarter of 2021, as rents rose 3.3 per cent quarter on quarter, versus a 3.5 per cent contraction in the fourth quarter of last year.
As vaccination efforts progress and the economy get back on track, some analysts project that the office rental market will bottom out this year before starting to recover in 2022.
JLL's head of research and consultancy (Singapore), Tay Huey Ying, reckons the jump in the Q1 2021 office rental index was likely due to offices with a lower rent-point.
She said: "The search for replacement premises by tenants displaced by the recent spate of rede…
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Apple to invest US$250 million into expanding Ang Mo Kio campus
DFI puts its last 2 Singapore properties up for sale at S$48.5 million
High Court dismisses Chinese businessman’s claims against Huttons and agent in misrepresentation suit
Delfi Orchard up for collective sale at S$438 million guide price
US 30-year mortgage rate rises to a four-month high of 7.13%
US homebuilding retreats as housing recovery stalls