, Singapore
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Prime office market see lower vacancy rates in Q2 2024

Vacancy tightened to 2.3%.

Core CBD Premium and Grade A offices recorded lower vacancy rates in Q2 2024, Colliers reported. 

Colliers

In Q2, vacancy tightened to 2.3%, down from 2.6% in Q1 2024. 

The decline in vacancy is likely to increase demand for core CBD Premium and Grade A offices, which reported a net absorption of 41k sq ft, a reversal from the -0.3k sq ft in Q1. 

Meanwhile, Colliers also reported that the market will see an additional 1.26 million sq ft of prime office space in the next quarter, 

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