(January 20 09:51) Sbr.com.sg
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Paul Howell
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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.
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