Rentals for office space up 0.3%

Said increase in 4th Quarter 2011 however was lower than the 0.9% increase in the 3rd Quarter.

The Urban Redevelopment Authority, releasing the real estate statistics for 4th Quarter 2011, said:

Rentals for office space, based on leases which had commenced, increased by 0.3% in 4th Quarter 2011, lower than the increase of 0.9% in 3rd Quarter 2011. Prices of office space increased by 1.0% in 4th Quarter 2011, lower than the 3.7% increase in the previous quarter.

For the year 2011 as a whole, prices rose by 13.8% and rentals rose by 8.4%, compared with the 18.9% and 12.6% increase in prices and rentals respectively in 2010.