Published:
Chart from Knight Frank
Expert forecasts continued rise in prime office rents
In 1Q24, Singapore recorded a 3.4% YoY uptick in occupancy cost.
Prime office rents will continue to rise in the next 12 months, Knight Frank reported.
In 1Q24, Singapore already saw a 3.4% YoY and 0.6% QoQ increase in prime rents.
Within the Asia-Pacific region, Singapore also has the highest rent at US$114.18 per square foot a year.
Singapore ranks behind Hong Kong in occupancy cost.
Despite having one of the highest rents, Singapore has the lowest vacancy rate in APAC at 4.3%.
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