There is now a widening rental gap (per sq ft per month) within The Financial District between the very top tier of the market - Premium Grade A, upper mid-range and economy range.
When assessing your rental budget, tenants should consider how flexible can they be on district. Provided the location has convenient transport for staff, do they really need to be in a100% prime building? Sometimes, there is a significant difference between asking rates and bottom-line average ‘effective rates’ after negotiations. However, in a firming market like Q4 2022, there is less room for manoeuvre and the difference is narrowing.
|Financial District||Outside CBD East|
|Raffles Place||$10.00 - $13.00||City Fringe East/ Paya Lebar||$6.50- $8.50|
|New Downtown||$11.00 - $14.00||Suburban East||$4.50 - $5.50|
|Shenton Way / Robinson Rd||$8.50 - $12.00||Outside CBD West|
|Beach Road / Suntec||$8.00 - $11.00||City Fringe West/ Alexandra Rd||$6.30 - $7.50|
|CBD Rest||Suburban West||$5.00 - $7.50|
|Orchard Road/ Novena||$7.50 - $9.00|
|Chinatown / River Valley Road||$6.00 - $7.50|
For more information, view our latest
Office Market Update