reporter2
22-04-22, 10:11
Singapore office rents rise 1.6% in Q1, prices climb 4.4%: URA
Apr 22, 2022
RENTS of office space in Singapore’s central region increased 1.6 per cent quarter on quarter, speeding up from the 0.9 per cent uptick in Q4 2021, the Urban Redevelopment Authority's (URA) latest data showed.
URA’s price index for office space in the central region climbed 4.4 per cent in Q1 this year, reversing from the 1.8 per cent drop in the previous quarter.
As at the end of March 2022, there was a total supply of about 834,000 square metres (sq m) in gross floor area of office space in the pipeline islandwide. That is about 6.1 per cent more than the 786,000 sq m of pipeline supply as at the end of 2021.
Islandwide, the vacancy rate remained at 12.8 per cent at the end of March this year, unchanged from December. This came as net demand, as measured by the change in occupied space, as well as the stock of office space both fell quarter on quarter.
The amount of occupied office space shrank by 13,000 sq m, a bigger decrease than the 10,000 sq m drop in Q4 last year. The stock fell by 17,000 sq m in Q1 this year, compared with the decrease of 23,000 sq m in the previous quarter.
https://www.businesstimes.com.sg/real-estate/singapore-office-rents-rise-16-in-q1-prices-climb-44-ura
Apr 22, 2022
RENTS of office space in Singapore’s central region increased 1.6 per cent quarter on quarter, speeding up from the 0.9 per cent uptick in Q4 2021, the Urban Redevelopment Authority's (URA) latest data showed.
URA’s price index for office space in the central region climbed 4.4 per cent in Q1 this year, reversing from the 1.8 per cent drop in the previous quarter.
As at the end of March 2022, there was a total supply of about 834,000 square metres (sq m) in gross floor area of office space in the pipeline islandwide. That is about 6.1 per cent more than the 786,000 sq m of pipeline supply as at the end of 2021.
Islandwide, the vacancy rate remained at 12.8 per cent at the end of March this year, unchanged from December. This came as net demand, as measured by the change in occupied space, as well as the stock of office space both fell quarter on quarter.
The amount of occupied office space shrank by 13,000 sq m, a bigger decrease than the 10,000 sq m drop in Q4 last year. The stock fell by 17,000 sq m in Q1 this year, compared with the decrease of 23,000 sq m in the previous quarter.
https://www.businesstimes.com.sg/real-estate/singapore-office-rents-rise-16-in-q1-prices-climb-44-ura