But see why this could be a good thing.
According to Colliers, Singapore’s CBD Class A office rents are expected to continue decline through 2013, but notes that the lowered office rents will improve the market’s competitive edge as a regional hub for business.
The prediction came as Colliers recapped the 2012 performance of Singapore Class A office rents, which fell in 2012 as the global economic environment weighed down the market’s leasing activity.
Colliers said that a glut of supply could be entering the market soon, which will help drive down prices. "Seeing the steady lineup of new office buildings completed over the next four years, a substantial amount of secondary space could be released to the market upon lease expiration as existing tenants move to new premises," it said.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
| www.marshe.sg | www.marsheproperties.com.sg | www.hudcsg.blogspot.com |
| www.hausatserangoon.sg | www.8riversuites.com | www.newagents.sg |