Singapore Office Rents Slide 3.2% in Q4, down 3.1% for 2019 : URA
By (THE BUSINESS TIMES)- Singapore Office Space rents Slide has relieved 3.2. per cent in the fourth quarter of 2019 over the previous three months. More specifying the drop is about 0.6 per cent fall in the third quarter of 2019. This information is released by “Urban Redevelopment Authority” (URA) on Thursday.
In 2018 the Singapore Office Space rents was 7.4 per cent. But now it has dropped on 3.1 per cent in 2019. The Urban Redevelopment Authority (URA) has given plenty of issues behind this.
Again the prices of offices space has decreased with a great percentage. From the URA’s fourth quarter data, it has showed that the rate in the central region has a drop of 3.9 per cent according to the previous quarter. Whether the price index shed was 5.7 per cent in 2018. Now, it has decreased on 0.6 per cent.
On the Islandwide, There was total 753,000 square metres (sq m) gross floor area of office space. Where previous quarter was 738,000 sq m at the end of the previous quarter.
According to the fourth quarter the office space has increased 30,000 sq m (NLA). Where 71,000 sq m was in the previous quarter.
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