Singapore Office Rents Pivot | Office Q1 2021 (Colliers International) 14 April 2021
With new demand continuing to be led by the technology sector, tightening vacancy to 5.0% from 5.2% in Q4 2020, Colliers recommend occupiers to lock in leases early as rents hit an inflection point. Owners should redevelop older properties into mixed-use developments to unlock value.
Report highlights:
- CBD Grade A rents stabilised at SGD9.54 per sq ft (-0.3%QOQ) in Q1 2021, as net absorption turned positive after two consecutive quarters of contraction.
- New demand continued to be led bythe technology sector, tightening vacancy to 5.0% from 5.2% in Q4 2020.
- Total office or mixed office investment volumes rose 13.9% YOY to SGD850 million in Q1 2021, as confidence returned with the global vaccine roll-out.
