Singapore’s prime office rental growth lags: CBRE

Seoul was also among the rental growth laggards.

The overall rental growth of prime office assets in Singapore over the past three years lagged behind its peers in Asia Pacific, CBRE data showed.

Singapore’s cumulative rental growth for prime office rents between 2021 and 2023 lagged the regional market average mainly due to a higher base effect and limited differentiation between prime and general Grade A offices, according to the property agency.

Data showed Singapore prime and Grade A office rents during those three years stayed below 10% and 15%, respectively.

The city-state is joined by Seoul and Ho Chi Minh City.

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