Office market showed mixed signals in Q1

Capital values edge higher even as leasing demand weakens across office segments.

Office rents in Singapore fell by 0.2% in the first quarter (Q1), reversing a 0.4% increase in the previous quarter, according to the Urban Redevelopment Authority (URA).

Prices rose by 0.2% over the same period, reversing a 0.7% decline in the previous quarter.

The supply pipeline for office space stood at about 867,000 square metres of gross floor area as at end-Q1 2026, unchanged from the previous quarter.

Total stock increased by 8,000 square metres of net lettable area, compared with a decline of 7,000 square metres in the previous quarter.

Vacancy fell to 10.8%, from 11.1% in the previous quarter, the URA said.