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Singapore prime office rents 49% cheaper compared to Hong Kong: Cushman & Wakefield
But overall occupancy costs climbed 9.8% last year.
Singapore’s prime office rents are still way cheaper compared to Hong Kong’s in spite of a 9.8% occupancy cost uptick in 2014.
Data released today by Cushman & Wakefield show that Singapore moved up one place from 13th most expensive global office market in 2013 to 12th in 2014.
However, prime office rents here are still 49% cheaper compared to Hong Kong, which is ranked 2nd globally.
Rents are expected to move up by another 5-6% in 2015, supported by broad-based leasing demand and few completions of new projects.
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