Office rents going up, but not for long

Singapore office rents will climb another 10% for the remainder of 2008, but vacancies are going to surge in the years following that due to extensive building projects being completed. Vacancies are expected to stabilise by 2012. This is reported by Deutsche Bank’s property arm RREEF who also notes that of all commercial rentals (retail, industrial and office), office rentals are the most volatile. Retail is expected to see continued growth for the next four years.

Major projects in the completion stages this year include Marina Bay Financial Centre (MBFC), Ocean Building and Marina View.

Image Source HKLand

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