CBD Grade A office vacancy falls to two-year low in Q3

Rents gained 1% quarter on quarter on limited supply of premium space.

The central business district (CBD) Grade A office vacancy fell to a two-year low of 3.9% in the third quarter (Q3) of 2026, from 4.7% in Q2, according to Cushman & Wakefield (C&W).

Rental growth increased 1% quarter on quarter, driven by limited supply of high-quality office space and continued demand for premium premises, C&W said in the MarketBeat report.

Leasing activity was led by relocations amongst financial services, professional services, and technology firms, including a growing number of global artificial intelligence firms establishing or expanding their presence in Singapore.

The report showed CBD Grade A rents rose 3.8% in the first nine months of 2026, putting them on track to meet C&W’s full-year growth forecast of 4% to 5% year on year.

C&W expects supply to remain below historical demand, with no major completions in Q4 2026 and only a significant pipeline addition in 2028.

Although rental growth may moderate amidst geopolitical and interest rate uncertainties, tight vacancy rates and sustained occupier demand are expected to support leasing conditions, C&W added.

Follow the link for more news on

Cushman & Wakefield

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