CBD rents grow 3.9% as supply stays thin through 2027

Only two non-strata developments will open from 2026 to 2027.

The Singapore CBD office market remains resilient, with rents growing 3.9% year-on-year in the third quarter (Q3) 2026, supported by demand from growth-focused companies, according to JLL.

The Q3 vacancy rate stood at 5.9%. With no new completions during the quarter, options for occupiers with larger space requirements have narrowed.

Over the next two years, only two non-strata developments will enter the market: the refurbished Robinson Point by end-2026 and Newport Tower in 2027.

Scarcity of large-format space, especially in Marina Bay, has narrowed the rental gap between large and small units as tenants compete for limited, high-quality options.

JLL forecasts rents and capital values to maintain steady growth over the next 12 months as vacancy tightens in a period of supply constraint. Interest rates have begun to rise but remain below 2023 to 2024 peak levels, although prolonged geopolitical tensions remain a key downside risk.

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