04 Apr '11, 8am

10% upside seen for secondary office rentals: Q1 rental growth in Singapore's secondary office areas at the frin...

Q1 rental growth in Singapore's secondary office areas at the fringe and outskirts of the Central Business District (CBD) surpassed those in the Raffles Place area, according to a report released by DTZ Research. According to the global research company, the average gross rents of offices in Raffles Place climbed 3.3 percent quarter-on-quarter to S$9.30 psf per month in the first quarter, compared to a 7.5 to 10 percent quarter-on-quarter increase in other areas. Meanwhile, based on the analysis of rents for completed buildings, average rents in the Anson Road / Tanjong Pagar area surged 9.6 percent quarter-on-quarter to S$6.85 psf per month. "The Anson Road / Tanjong Pagar area has been undergoing a makeover, with the addition of new and well specified good quality buildings like Mapletree Anson and Twenty Anson. GuocoLand's mixed use project at Tanjong Pagar will yield a...

Full article: http://sg.news.yahoo.com/10-upside-seen-secondary-office-...

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