CBD Grade A office rents climb 1.4% in Q1 as tight supply squeezes tenants

Vacancy rates fall to 4.1% as flight-to-quality demand persists.

Singapore’s central business district (CBD) Grade A office rents rose 1.4% quarter-on-quarter in the first quarter (Q1) of 2026, amidst tightened supply and sustained flight-to-quality demand, according to Cushman & Wakefield’s Marketbeat report.

As rents saw a slight uptick, vacancy rates dipped to 4.1% from 4.4% in the fourth quarter of 2025. Gross effective rent reached $11.36 per square foot per month.

The CBD Grade A office market saw continued growth, whilst vacancies fluctuated from Q1 2023 to Q1 2026, the report said.

Marina Bay led net absorption in the CBD, contributing 0.1 million square feet of demand, driven by backfilling activity at Marina Bay Financial Centre.

The report also noted that vacancy rates declined across most CBD Grade A developments, reflecting continued occupier preference for newer, higher-specification assets.