Office markets see ‘positive signs’ amidst precarious COVID-19 situation

These signs include the prevailing tight vacancy in the Grade A market. 

“Positive signs” were observed in the office market for the third quarter of 2021 despite the re-tightening of safety measures in Singapore which led to work from home as default working arrangement.

The first bright spot listed by CBRE Research was the completion of the office component in CapitaSpring which contributed 0.21 mil sq. ft of positive islandwide office net absorption for the third quarter.

Analysts expect technology and non-banking financial services firms to continue to spur leasing activity.

There also have been prevailing tight vacancy in the Grade A market, according to analysts

CBRE reported an acceleration in rental growth in the Grade A segment, and expansion of rent by 1.4% -0-9 to $10.65 psf/month for Q3.

“The outlook for the office market looks positive as the sector is underpinned by tight vacancy,” CBRE said.

“Coupled with the limited number of options over the next three years, and the rapid expansion in demand from the technology sector, CBRE Research expects further rental growth in the mid term,” they added.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Module integration and completion are not part of its responsibilities.
The company says it will continue to welcome feedback from workers.
OneMap3D data from ERA will be incorporated into its RealtyWatch mobile apps
$500,000 was contributed to the library's Green Grove showcase.
He has over 25 years of experience in business and risk roles.
The country also won 'Best Seaport in Asia' for the 33rd time.
Flight bookings were made available on 22 October.
Sembcorp Industrialshowed the most growth.
Analysts said there are three factors that drove the price growth.
Prices of private residential properties rose by 1.1% in Q3, marking the sixth consecutive quarter of growth.
72% of Singaporeans were aware of the term 'ESG.'
This strong performance was due to the recent acquisitions by the company.