Office rents set to fall by 5% in 2021

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No This is before they bottom out and recover next year. Singapore office rents may decline by around 5% in 2021 before bottoming out and recovering next year, barring new strains of COVID-19 and consequent lockdowns, according to property consultant Knight Frank. This is amidst an expected 5.3 million square feet(sq ft.) of new supplies island-wide from Q4 2020 to 2023, a 94.1% estimated occupancy for the central business district (CBD), and an average of $10.16 per sq ft. per month overall prime office rents. read more