Here are the priciest office deals in Singapore's CBD in May

Units were sold at $3,200 psf.

According to Savills, notwithstanding the hefty price tags and compressed yields, buying activity in the office market remained undeterred amid the current low interest rate environment. The priciest transactions were for units on the 17th storey of 999-year leasehold Samsung Hub, which were sold at S$3,200 per sq ft in May, surpassing the S$3,150 per sq ft level seen in March.

Currently, the units on the same building’s 18th storey are up for sale with an asking price of S$3,300 per sq ft. Meanwhile, a small unit on level 24 of Suntec City Tower 3 also changed hands at a record price of S$3,000 per sq ft in May.

Here's more from Savills:

Observed from the CBD Grade A office buildings tracked by Savills, average monthly rents inched up marginally by 0.1% to S$8.42 per sq ft in Q2/2013, after a modest growth of 1.2% recorded in Q1/2013.

Compared with the previous quarter, rents in most of the buildings in our basket held firm while some increased by S$0.10 to S$0.25 per sq ft, confirming that overall, rental levels have stabilised and are starting to recover from the downturn since Q3/2011.

Capital values of CBD Grade A offices continued to trend upwards, rising 3.1% in Q2 to S$2,750 per sq ft.

This takes the half-year price growth to 7.8%, only 1.8% lower than the previous peak of S$2,800 per sq ft in Q1/2008.

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