Friday, January 20, 2012

GradeA office rents decline in Q42011 as office stock climbs

Business Times: Fri, Jan 20
SINGAPORE'S office leasing market buckled in Q4 2011 under the stress of the heightened uncertainties and volatility arising from the debt crisis in the eurozone, said a new report from Colliers International.

According to the property firm, the average monthly gross rents for Grade A office space in the Raffles Place and New Downtown micro-market fell by 4.3 per cent to $10.31 per square foot per month (psf pm) in Q4 2011 - marking the first time rents fell quarter on quarter since the market bottomed out in Q4 2009...

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