2023 Singapore Office Occupier Sentiment Survey (CBRE)

As Singapore exits the pandemic and business activity returns to normal, corporate occupiers are placing more emphasis on employee productivity and on increasing office utilisation. With workplace transformation underway, there is strong demand to adapt and “build a better office” to meet the fast-evolving needs of employees and senior management. Additionally, occupiers should be actively identifying new opportunities and strategies to future-proof their portfolios.

CBRE's 2023 Singapore Office Occupier Sentiment Survey features insights from occupiers across various industries such as financial services, technology, media, telecoms and professional services etc.

Key findings include:

• Singapore's median utilisation rate stands at 64% and this is expected to increase further over the next 6 to 12 months.
• Leasing sentiment remains cautious in near term with more opting for lease renewals and re-negotiations but 45% expect to grow their corporate portfolios over next 3 years.
• Strong demand for green buildings but amount of green premium remains low. 67% would be willing to pay a premium of less than 5%.
• Staff-to-desk sharing ratios set to increase as more companies adopt flexible seating and hybrid working. 67% plan to increase desk sharing ratios over the next 2 years.

This report was originally published in https://www.cbre.com.sg/insights/viewpoints/2023-singapore-office-occupier-sentiment-survey