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A Steady Ascent | Q3 2022 Office Market Report

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Colliers Research, Office, Office Rents, Office Sales
By Colliers Research

Core CBD Premium and Grade A office rents reached S$11.30 per sq ft in Q3 2022, surpassing pre-pandemic highs. This momentum was supported by an increase in service charges and tight vacancy.

Report highlights:

  • Rents for Core CBD Premium and Grade A office segment increased for the fifth consecutive quarter to reach S$11.30 per sq ft.

  • Leasing demand was weaker but remained resilient with net absorption at approximately 3,200 sq ft during the quarter.  

  • The vacancy rate for Core CBD Premium and Grade A office segment remained unchanged from the previous quarter at 3.4%. 

  • Average capital values for Core CBD Premium and Grade A office segment remained unchanged from last quarter at S$3,000 per sq ft. 

  • Rents for Core CBD Premium and Grade A office segment are expected to continue to trend upward for the rest of 2022. Full-year rental growth is likely to reach between 6% and 7%.

Download our latest report for insights into trends and outlook for the Singapore office market.

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Colliers Research, office, Office Rents, Office Sales

A Steady Ascent | Q3 2022 Office Market Report

Download Report
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Catherine He | Colliers | Singapore

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