Singapore CBD Grade A office rents may cross pre-pandemic peak by Q3: JLL

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Singapore CBD Grade A office rents may cross pre-pandemic peak by Q3: JLL

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June 29, 2022 1:49 PMSINGAPORE (THE BUSINESS TIMES) - Grade A office rents in Singapore's Central Business District (CBD) continued their steady upward climb for the fifth straight quarter to recover to 0.6 per cent below the pre-pandemic peak of $10.81 per square foot (psf) per month in the fourth quarter of 2019, according to JLL Singapore.

Additionally, JLL highlighted that the availability of good quality office space has become increasingly tight in the CBD with large space users finding it "especially difficult" to source for suitable alternative premises.

She added that expansions and new set ups also "far overshadowed" workplace downsizing, leading to Q2 2022 net absorption of CBD Grade A office space reaching the highest in 17 quarters.

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Article Details

Category: Economy

Topics: Month Cent Singapore Business Rents Grade 2022 Space Office Growth Quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-29, 13:49:40

News Timezone: GMT +8:00

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Language: English

Reading Time: 4 minutes read

Article Length: 583 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 19735

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Coverage Areas: Singapore

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