1 view

Prices of office space inch up 2.2% in Q3

But rental prices slipped 4.5%.

Prices of office spaces in Singapore jumped 0.2% in Q3, but rentals slipped 4.5% after remaining unchanged in the previous quarter, according to an URA report.

Price index rose from 126.9 in Q2 to 127.2 in Q3. On the other hand, rental index to 161.1 in Q3 from Q2’s 168.7.

At the end of Q3, there was a total supply of about 767,000 sq m GFA of office space in the pipeline, versus the 668,000 sq m GFA of office space in Q2.

In addition, 174,908 sq m of office space were completed from Q1 to Q3.

The amount of occupied office space decreased 19,000 sq m (nett) in Q3, whilst the stock of office space decreased by 33,000 sq m (nett). As a result, the island-wide vacancy rate of office space declined to 12% by the end of the quarter.

Get Singapore Business Review in your inbox
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!

This is the last trading day before the ghost month.
Its revenue also rose 23.4% YoY to. US$2,262.4m in the same period. 
It is expected to be ready for launch in H2 2022.
Encouraged by vaccinations, more Singaporeans plan to travel in the next three months.
The amendments include higher penalties for erring property agencies or agents. 
The centre aims to spearhead Singapore’s maritime industry’s energy transition.
However, PropertyGuru’s data showed continued confidence amongst sellers.
The system enables employees to have test results in as fast as 60 seconds.
COVID-19 disruptions continue to cause delays in its projects.
Its underlying profit of $832.2m is still 17% below pre-COVID levels.
The airline saw a net loss of $1.12b in the same period last year.
All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.