Chart of the Day: CBD Grade A office rents edged up 0.1% to $8.42psf

Rents in most buildings remained firm.

According to Savills, average monthly rents in CBD Grade A office buildings inched up marginally by 0.1% to S$8.42 per sq ft in Q2/2013, after a modest growth of 1.2% recorded in Q1/2013. 

Compared with the previous quarter, rents in most of the buildings in their basket held firm while some increased by S$0.10 to S$0.25 per sq ft, confirming that overall, rental levels have stabilised and are starting to recover from the downturn since Q3/2011.

"Capital values of CBD Grade A offices continued to trend upwards, rising 3.1% in Q2 to S$2,750 per sq ft. This takes the half-year price growth to 7.8%, only 1.8% lower than the previous peak of S$2,800 per sq ft in Q1/2008," Savills said.