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Office Rental Update

Office Rental Update

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Singapore is the second most attractive office location for the tech, media and telecommunications sectors, ahead of Shenzhen and behind Bangalore, based on a Colliers report on Asian office markets released on May 27.

Technology, media and telecommunications (TMT) “key driver” that cause increase in demand for office space. Larger tenants will concentrate its pressure in the central business district or central business district fringe locations and smaller tenants have tendency to be located in business parks.

The Shenton Way/Tanjong Pagar areas command the highest occupancy rate for office tenants in the tech, media and telecommunication sector, at 21% followed by City Hall, with an occupancy of 17%, and Raffles Place, at 12%.

 

2019 will experience the new launch condo into the market. Developer of such new launch condo will face the pressure to offload whatever stock of new condominiums.


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