CBD Grade A rents stabilised further in Q2 2021, declining only 0.1% QOQ to SGD9.52 per sq ft, despite negative net absorption resulting in higher vacancy.
Report highlights:
- CBD Grade A rents stabilised further in Q2 2021, declining only 0.1% QOQ to SGD9.52 per sq ft;
- We maintain our positive outlook in the office sector and rent forecast to rebound 2.1% by end-2021, supported by strong economic growth and potential Covid easing measures;
- Office demand to continue being driven by the Technology sector;
- Key flexible workplace operators to continue their expansion at a modest pace;
- Total office or mixed office investment volumes rose 51.5% YOY to SGD1.3 billion in Q2 2021 despite heightened COVID-19 measures;
- Long term capital value growth of 3.0% p.a. expected
Download Colliers' latest quarterly report on the office market as we examine the shifting trends and outlook, with expert recommendations for office occupiers and investors.
