Office space prices dip 0.2% in Q1: URA
Rentals increased by 0.3% during the period.
Office space prices decreased by 0.2% in the first quarter of 2025, compared with the 0.7% decrease in the previous quarter, the Urban Development Authority reported.
Additionally, rentals increased by 0.3% during the period, compared with the 0.9% decrease in Q4 2024.
In Q1 2025, there was a total supply of about 856,000 square metres of gross floor area (GFA) of office space in the pipeline.
Moreover, occupied office space decreased by 1,000 sq. m. whilst the stock of office space increased by 98,000 sq. m.
Island-wide vacancy rate of office space increased to 11.7% as compared to 10.6% in Q4 2024.