Latest Market Research

Office Market Update

January 2021

Supply over the next four years is estimated to average around 1.28M sq ft, which is well below the previous ten-year average of 1.77M sq ft. The current overall vacancy rate in the CBD stands at 5%, which is expected to grow to 7% by 2023.

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Singapore Office Market Update January 2021

Office Market Update
Published: 05 January 2021

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Market Research Archive
  • Market will be dominated by short-term renewals
  • Tech firms to lead demand: Alibaba, ByteDance, Twitter, Rackspace are all expanding, making Singapore their regional base
  • Demand for co-working space to continue
  • Rates to soften by 7% – 9% across the board
  • Very few new office developments coming on stream in the CBD in 2021
  • Companies will continue to 'right-size'