Chart of the Day: Check out how office supply is expected to expand next year

Around 2.9m sq ft of spaces will be available for tenants in 2017.

There has been a big disparity between the demand and the supply in Singapore's office market, with the amount of spaces outpacing the number of people actually looking for a place to set up shop.

According to a study by Colliers International, Premium and Grade A office supply in Central Business District (CBD) is slated to grow 5.6% this year and another 12.1% in 2017 due to succeeding completions.

Based on the figures, almost 1.9 million sq ft. of office spaces, majority of which are in CDB, are available for would-be tenants this year.

In 2017, office spaces are expected to rise up to 2.9 million sq ft., with supply in CBD almost doubling.

By 2018, majority of the 2.7 million sq ft. office spaces available will be located outside CBD.

This oversupply has pressured overall office rentals across the city-state. In fact, the market saw its fifth consecutive QoQ decline in the past quarter.

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