Prime grade office rents up 1.4% QoQ in Q3

Average rent in the Raffles Place / Marina Bay precinct is now at $10.51 psf pm.

Prime grade office rents rose by 1.4% QoQ in the third quarter, data from Knight Frank showed.

Average rent in the Raffles Place / Marina Bay precinct is now at $10.51 psf pm.

According to Knight Frank, the market balance has shifted to landlords providing support for the higher rents this quarter due to the non-excessive supply of new office inventory coupled with increasing demand for prime space.

Meanwhile, occupancy levels in the Raffles Place / Marina Bay precinct and overall CBD also remained healthy at 95.4% and 93.6%, respectively.

"Many businesses are bringing employees back to the office as functions resume to pre-pandemic levels and as companies expand headcount in the second half of the year to meet the operational needs of a normalising economy," Knight Frank said.

Follow the link for more news on

Knight Frank

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