Published:
You won't believe how much office rents will go up this year
Vacancy presure seen in some segments.
According to Colliers International, rents are poised for a continued uptrend in 2014, but forecast to be capped at 15 per cent for Premium Grade and Grade A office space – taking into consideration risks that could de-stabilise the global economic recovery and the increasing cost of doing business locally.
Meanwhile, with tenants carrying out their planned upgrades to newer buildings, there could be vacancy pressure for buildings of lower specifications. Hence, the average rental growth for Grade B office space is expected to be limited to 10 per cent in 2014.
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