Singapore's office rental growth to be the second fastest in Asia Pacific

Rents are expected to grow by 9-10% in 2018.

Office rents in Singapore are expected to grow by 9-10%, making it rate the second fastest in the Asia Pacific, said Cushman & Wakefield.

According to research, improved economy and business confidence strengthening launched the rental projections up. The firm also called the city state "Landlord Favourable."

Ho Chi Minh is expected to have the fastest growth at 15-20%.

After Singapore, cities like Bengaluru, Sydney, and Melbourne followed with projected rates of 8-10%, 7-8%, and 5-6%, respectively.

"In Singapore, rent recovery is set to gain traction as its supply pipeline begins to moderate in 2018," Cushman & Wakefield said.

Moreover, Singapore's REITs and institutional funds also served as one of the leading sources of investment demand outside Chinese investors.

The Smart Nation initiative will also continue to drive the tech sector, at the same time that the city state remains an attractive gateway to Southeast Asia for tech firms.