Singapore amongst cities with largest office rent declines

Occupancy costs fell 6.6% from a year ago.

If the latest Global Prime Office Occupancy Costs report from CBRE Research is anything to go by, then it seems that the office market in Singapore is becoming cheaper.

According to the rankings, Singapore is now the 27th city with the most expensive prime office occupancy. Costs in Singapore clocked in at US$85.02 psf in Q1. Hong Kong has the most expensive office market, with occupancy costs hitting US$302.51.

"In Singapore, occupancy costs continue to fall, thanks to the increased supply of office stock and weak levels of inflation," CBRE Research said.

In fact, Singapore is amongst the cities with the largest occupancy cost declines in the previous quarter, falling 6.6% from a year ago in terms of local currency. The largest cost decline was seen in Jakarta, Indonesia, where occupancy in local currency fell 19.6%.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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