Staff Reporter
,
Singapore
CBRE expects rents to only increase by 1.0% YoY.
Real estate expert, CBRE, has cut down its 2023 rental growth forecast for the Core CBD Grade A office market to 1.0% YoY, taking into account possible weaker demand conditions and economic growth.
CBRE's previous forecast was 4.0% YoY to 5.0% YoY.
On the flip side, CBRE said the softer market conditions in 2023 can be an "opportune time for occupiers to reset and reassess their office requirements."
In 2022, the market recorded a full-year growth of 8.3%, surpassing the rental growth of 3.8% in 2021.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!