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Singapore office rents rise 0.3% QoQ in Q3

Vacancy levels remained low amidst limited supply.

Asia-Pacific leasing activity rose 10.7% year-on-year (YoY)  in Q3 2024 with Singapore recording an annual growth rate of over 30% along with India and New Zealand, Colliers reported.

Singapore core CBD premium and Grade A rents grew by 0.3% quarter-on-quarter (Q-o-Q) during the period due to lease renewals at higher rates and the limited supply of high-quality office buildings in the market.

Vacancy levels remained low below 5%, due to limited supply. Meanwhile, new office building completions in Singapore during Q3 signal a positive outlook for future supply.

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