Supply crunch sees CBD office rents rise, Singapore Property News,

Supply crunch sees CBD office rents rise, Singapore Property News, Singapore Property Guides

Average CBD rents expanded 4 per cent to $9.96 per sq ft per month in the second quarter over the preceding three months, says property consultancy JLL. -- PHOTO: LIM YAOHUI FOR THE STRAITS TIMES LIMITED supply is pushing up rents for offices in the central business district (CBD) but looming interest rate rises are deterring investors from buying, said property consultancy JLL. Average CBD rents expanded 4 per cent to $9.96 per sq ft (psf) per month in the second quarter over the preceding three months, mainly due to the "stable take-up" by firms amid tightening vacancies, it said. The increase was at a slightly faster rate than the 3.9 per cent rise in the first quarter this year from the previous quarter. Mr Chris Archibold, head of markets at JLL, told The Straits Times yesterday that the growth in rents was "likely to continue through 2014 and the first half of 2015 a...

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