Press enter

Prime office rents in Singapore post biggest rise in four years | 07 January 2015

Prime office rents in Singapore post biggest rise in four years | 07 January 2015

Singapore’s prime office rents for 2014 may have reached their most significant growth in at least four years, according to the Urban Redevelopment Authority (URA).

In the first nine months of 2014, the rental index for prime office space grew by 8.7 per cent, almost the largest increase seen since 2010, when it climbed upwards by 12 per cent, reports Over the past two years, prime office supply has been unable to keep up with demand, which means 2014’s rental growth might have be as high as 14 per cent, Savills claims.

Alan Cheong, a Singapore-based director at Savills, said landlords will be able to command higher rents due to the lack of space that will be available both this year and next.

“Going into 2015, demand would almost match supply for prime office space, making the office market fundamentally sound,” he stated.

However, some landlords are trying to convince tenants to sign up to longer leases than usual, as they fear the market will soon soften due to the large amount of office space being built in two years’ time, reports

In 2015, the property market will receive 1.15 million square feet of new office space, director of Knight Frank LLP Alice Tan has estimated. This is a small decline from the previous year’s figures, as 1.87 million square feet of office space was added to the market in 2014.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

Share this story
Philippa Cunningham
Posted by Philippa Cunningham
+44 (0) 20 7726 3200.
More News

Qube Global Software to exhibit and sponsor MIPIM | 1 March 2016

We are pleased to confirm that Qube Global Software will once again be sponsoring and exhibiting at MIPIM in Cannes, South of France.

Qube Global Software will attend and sponsor MIPIM Asia 2015

Staff from Qube Global Software will attend MIPIM Asia, the two day global leader summit, at the beginning of December 2015. Topics this year include Asia Pacific inbound and outbound investment flows, regional development opportunities and projects, and real estate trends.

Surprise strengthening for Singapore dollar | 30 March 2015

Anticipation surrounding upcoming policy moves is not negatively affecting the Singapore dollar as expected, amid reports that it’s actually strengthening rather than weakening. Although many analysts believe Singapore’s central bank meeting in April will result in easier monetary policy, the Singapore dollar is beating everyone’s expectations. Since the middle of March, the Singapore dollar has […]