30 May '14, 2am

Office rents here 'may rise fastest in the world this year', Singapore Property News, Singapore...

A LACK of office space could drive up rents at a faster pace in Singapore than anywhere else in the world this year, according to a report from property consultancy JLL. JLL analysts told The Straits Times that skyrocketing rents here could in turn entice foreign funds, particularly those from the United States , to invest in the sector. Prime office rents in the Central Business District (CBD) could climb by as much as 15 per cent to 16 per cent this year from last year, said JLL's head of research for Singapore and South-east Asia, Dr Chua Yang Liang. In particular, rents for the newer offices in Marina Bay could increase by 16 per cent to 17 per cent over the same period. This means that prime offices here are "predicted to top the rental growth league table" this year out of 25 markets worldwide, the report said, edging out major global cities like Dubai, London, New Y...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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