24 Jan '13, 7am

Q4 office rental performance varied: Knight Frank | CommercialGuru Singapore

Rental price changes across various office submarkets in Singapore for Q4 2012 were marginal, with decreases in some areas and increases in others, according to Knight Frank’s Quarterly Research Bulletin. Typically, office leasing activity slows down during the fourth quarter as Christmas nears and major decision makers take a break. Additionally, no major multinational corporations (MNCs) entered / expanded into Singapore during the said period. Specifically, rents of Grade A+ buildings in Raffles Place / Marina Bay slipped 1.8 percent in Q4, the largest quarterly drop across all office submarkets during the quarter. In contrast, rents of Grade A buildings in Raffles Place experienced a slight increase of one percent. Moreover, demand for buildings with bigger floor plates was lower, since firms requiring such spaces had already relocated, while others had deferred such p...

Full article: http://www.commercialguru.com.sg/property-management-news...

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