Chart of the Day: Top markets with high vacancy rates for Grade A office in Q1

There were two micro-markets that posted highest quarterly growth in vacancy.

The top two micro-markets that have the highest quarterly growth in vacancy rates were Tanjong Pagar, an increase to 12.6% QoQ in the first quarter of 2023, and Raffles Place 9.1% QoQ in Q1 2023.

This chart from Savills also showed other than the City Hall and Orchard Road areas, where the vacancy rates edged down 0.3 and 0.5 of a percentage point (ppt) respectively.

Whilst other micro-markets (including Marina Bay, Shenton Way and Beach Road/Middle Road) posted a quarterly vacancy increase from 0.9% to 2.0%.

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Savills

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