Singapore rents rise for the first time in nine quarters

During the third quarter 2017, CBD premium and class A office rents in Singapore rose for the first time in nine quarters, up 0.4 percent quarter-over-quarter, signaling a turnaround, according to Colliers International.

Occupancy rates remained relatively buoyant, declining by only 1.6 percentage points quarter-over-quarter to 91.5 percent despite the large new supply from the completion of the 940,000-square-foot Marina One West Tower.

The investment market for prime office assets remained robust during the third quarter 2017, with capital values largely stable compared on a quarter-over-quarter basis. A notable transaction was the Square Tower 2 selling for $1.5 billion.

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