Core CBD Grade A office supply gap to drive rental growth in 2026

Retail rents return to 2019 levels but face a structural slowdown in future growth.

Singapore’s office and industrial real estate markets are expected to remain supported in 2026, driven by limited new supply in the Core CBD Grade A office segment and continued rental growth in prime logistics assets.

CBRE said the lack of new Core CBD Grade A office supply until 2028, together with occupiers’ preference to remain in central locations, is expected to support rental growth in 2026, whilst vacancy levels are projected to stay low, according to a CBRE report.

In the logistics sector, prime rents in the eastern and western regions are projected to continue rising in 2026, supported by strong pre-commitments from third-party logistics providers.

Yield compression for industrial assets is also expected to moderate as interest rates stabilise.

Meanwhile, retail rents have returned to 2019 levels but are entering a structural slowdown in growth.

The consultancy said landlords will need to focus on experiential offerings and tenant mix refreshes to sustain performance as the recovery momentum tapers.

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CBRE

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