A recent office rental statistic for the Singapore market was published on https://officefinder.com.sg/ on 2 of May 2022.
Singapore's central region saw a rise in the rental index of office space of 1.6% from the previous quarter. This follows a 0.9% rise seen in Q4 2021. This could mean the office rental market has bottomed out with two consecutive months of improvement.
In Q1 2022, the amount of occupied office space contracted by 13,000 sqm net lettable area (NLA), following a 10,000 sqm reduction in the previous quarter. Meanwhile, the stock of office space declined by 4,000 sqm NLA in Q1 2022, this follows a declined of 13,000 sqm in Q4 2021. The islandwide vacancy rate of office space remained unchanged at 12.8% by the end of Q1 2022.
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