CBD office rents hit five-year high on strong occupancy amidst tight supply

Savills reported its sixth straight quarterly rise in Q3.

CBD Grade A office rents in Singapore rose for the sixth straight quarter in Q3, up 0.8% quarter on quarter (QoQ) to $9.93 per square foot, the highest in five years, according to Savills Singapore.

Savills said limited new office supply and high occupancy continued to lift rents amidst easing interest rate concerns. On a year-on-year basis, rents grew 2.1%, the fastest pace since Q4 2022.

Grade AAA offices led the gains, rising 1.0% to $13.19 per sq. ft., the highest since Q1 2015. Grade AA and A offices climbed 0.7% and 0.8% to $10.85 and $8.81 per sq. ft., respectively. Marina Bay posted the sharpest submarket growth of 1.1% to $13.17 per sq. ft., also a 10-year high.

Savills expects premium office rents to keep rising through 2027 as new Grade A supply remains limited. Executive Director Alan Cheong projects annual rent growth of 2–3% over the next two years, supported by sustained occupancy and a tight development pipeline.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia