28 Nov '13, 9am

#GlobalREBubble #Singapore 'Tech Companies Spur Rental Growth In CBD' via @SGPropertyGuru

Traditionally occupied by financial institutions, the central business district is witnessing a new trend of consumer Internet companies taking up large spaces in prime Grade A office buildings, according to Cushman & Wakefield and reported in the media. This comes amid increasing rents due to healthy demand and lack of new supply. Notably, rents at Marina Bay moved up 0.85 percent to S$11.80 psf per month from S$11.70 psf per month in Q3, while Raffles Place rents grew 0.67 percent quarter-on-quarter to S$9 psf per month. Over at Shenton Way, rents have climbed 0.99 percent to S$8.20 psf per month. Outside of the CBD, Grade A rents at Orchard Road posted the highest increase, climbing 2.2 percent to S$9.20 psf per month. Overall, Grade A rents increased 1.1 percent quarter-on-quarter to S$9.38 psf per month in Q4. Meanwhile, average vacancy levels for the Grade A market d...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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