06 Apr '18, 1am

Office rents rise in prime districts

Grade A office spaces are in demand once more as prime office rents rise for the fourth consecutive quarter. Singapore Rents of CBD office spaces climb 3% as companies upgrade Rents of Grade A office spaces in the Central Business District (CBD) has risen 3% in the first quarter of the year. Despite a slight shift from the 4.3% and 4.2% quarter-on-quarter increase in the second half of 2017, the continued increment has boosted investor confidence. Across the board, office rents have increased. The average monthly gross rent for Grade A office space in Marina Bay rose by 3.3% to the current $10.84 psf. The sub-market at Marina Bay remained competitive while that at Raffles Place, Shenton Way, Tanjong Pagar and Marina Centre all fared well with increments of 2.7% to 3%. Grade A office space monthly rents at $9.51 psf More companies are leasing these prime office spaces. And ...

Full article: https://www.iproperty.com.sg/news/office-rents-rise-in-pr...

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