Grade A office rents in Singapore to hit peak since 2008 by year end: Cushman & Wakef

[CityFarmer]

More and more new internet start-ups are occupying the Grade A offices, on top of MNCs...

Grade A office rents in Singapore to hit peak since 2008 by year end: Cushman & Wakefield
24 Sep 2014 11:10
CUSHMAN & Wakefield said on Wednesday that Singapore Grade A office rents are expected to rise to the highest since 2008 by the end of this year.

This comes as average Grade A overall rents has already risen to their highest in three years to S$10.20 per square foot per month or 2 per cent higher than a quarter ago, and 9.9 per cent stronger than a year ago.

The third quarter rental figures also mark the sixth consecutive quarter of rental increases, a result of the tightening availability of Grade A space in areas such as Marina Bay and Raffles Place.
...
Source: Business Times Breaking News

[Ben]

This bodes well for CapitaCommercial Trust, which has Grade A offices in the CBD plus CapitaGreen is coming into the market soon. CapitaGreen is the only new Grade A office development in the CBD completing in the next two years, and so they can ride on this hike in rental rates.