Core CBD Premium, Grade A rents rise 0.6% QoQ to $11.53 per sq ft

Tight vacancies and flight-to-quality moves drove the increase.

Rents for core CBD Premium and Grade A offices continued to rise in 2Q23, markings its ninth consecutive quarter of increase.

In 2Q23, rents rose marginally by 0.6% QoQ to $11.53 per sq foot, data from Colliers showed.

Colliers attributed the increase to tight vacancies and flight to quality moves.

Looking at sub-markets, Shenton Way / Tanjong Pagar drove the rental growth for Q2.

Colliers, however, warned that rental growth may be impacted by the global market volatility.

“Due to the uncertain global environment, it has been observed that tenants are focused on cost management and hence are not rushing into making plans for relocation, choosing to monitor market developments instead. However, this could be an opportune time to plan their real estate needs, allowing them to take advantage of a variable market and good quality fitted out spaces coming to market,” Bastiaan van Beijsterveldt, managing director, Singapore at Colliers said.

Follow the link for more news on

Colliers

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia