/Savills Singapore

SG is 6th priciest city for office space: report

Total office costs are at $193.42 (US$142.73) per square foot per annum. 

The Lion City is the sixth most expensive city for office space, offering total office prices at $193.42 (US$142.73) per square foot per annum in the fourth quarter (Q4) of 2022, according to Savills Prime Office Costs (SPOC) analysis.

In a statement, property analyst, Savills, said this is a 1% increase from the previous quarter.

Landlords in Singapore pay for taxes and service charges, which are included in the gross rent paid by tenants. 

“The cost of fit-out at $180 per square foot, is amortised over the period of the lease and this adds to the overall all-in cost to occupier of US$142.73 ($193.42) per square foot per annum,” read the statement.

The SPOC analysis showed London (West End) to be the priciest city for office occupancy, followed by Hong Kong, New York, Tokyo, and London (City). Singapore ranked higher than Beijing, Shanghai, Delhi, San Francisco and Dubai to secure the sixth spot.

$1 = US$0.75

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