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Office Rents Pivot | Office Q1 2021

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Colliers Research Singapore Office Quarterly Report Q1 2020

With new demand continuing to be led by the technology sector, tightening vacancy to 5.0% from 5.2% in Q4 2020, Colliers recommend occupiers to lock in leases early as rents hit an inflection point. Owners should redevelop older properties into mixed-use developments to unlock value.

Report highlights:

  • CBD Grade A rents stabilised at SGD9.54 per sq ft (-0.3%QOQ) in Q1 2021, as net absorption turned positive after two consecutive quarters of contraction.
  • New demand continued to be led bythe technology sector, tightening vacancy to 5.0% from 5.2% in Q4 2020.
  • Total office or mixed office investment volumes rose 13.9% YOY to SGD850 million in Q1 2021, as confidence returned with the global vaccine roll-out. 


Download Colliers' latest quarterly report on the office market as we examine the shifting trends and outlook, with expert recommendations for office occupiers and investors.

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Office Rents Pivot | Office Q1 2021

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Related Experts

June Chua

Executive Director & Head of Tenant Representation

Tenant Representation


June  heads up the Office Services team in Singapore, and is responsible for ensuring the  team's delivery of quality real estate advice and the execution of leasing transactions across the office and industrial markets.

June has 30 years of office and industrial leasing experience in Singapore, and has provided strategic advice to numerous MNCs  on their real estate requirements to meet the mid to long term business needs. She is equally well-versed in project marketing assignments, and has assisted various landlord clients to position their property to secure the optimal tenant mix for their properties.


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KengChiam Tan

Executive Director & Head

Valuation & Advisory Services


Keng Chiam has been in the valuation and advisory practice that span over 30 years. He has vast experience providing quality advice to clients of important real estate activities ranging from acquisition and disposal, merger and acquisitions, feasibility studies, etc. He had acted as an expert for clients in contentious, high-profile dispute resolution cases.

He is currently leading the valuation and advisory services, hotel and leisure and the consultancy divisions within Colliers. In addition, he will be setting up the business valuation within the firm to provide clients with a comprehensive suite of advisory services.

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