27 Oct '14, 9am

Office segment shines in property scene, Singapore Property News, Singapore Property Guides

Office segment shines in property scene, Singapore Property News, Singapore Property Guides

Rents in the central area, like where Marina Bay Financial Centre is situated, grew by 2.8 per cent; those on the city fringe rose 1.9 per cent. -- ST PHOTO: ONG WEE JIN THE office segment was the sole bright spark in an otherwise lacklustre property market in the third quarter, new figures show. Selling prices and r ents for office space stood alone in recording growth, Urban Redevelopment Authority data indicates. But consultants said the "exuberance" in rental growth could be fuelled not by firms expanding, but by the tight supply of space. Office prices rose by 1.6 per cent in the third quarter, after staying flat in the second quarter, while office rents rose 2.6 per cent for the quarter, having previously added 2.8 per cent. The office rental index has been trending upwards since the first quarter of last year, noted Mr Ong Teck Hui, JLL national research director. O...

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

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