Chart of the Day: Check out the expected office supply dearth in 2019

It could be supportive of rent recovery in late-2017.

According to CIMB, the office property market may see a dearth in supply two years from now, in 2019.

Citing data from the Urban Redevelopment Authority, the brokerage firm said office supply is treading below 500,000 sq ft to as low as 200,000 sq ft. These properties are concentrated in the Core Business District.

For 2020, supply will go up and could reach to as much as 900,000 sq ft. Around 76% of the office space will again be concentrated in the CBD region. The rest are equally shared by CBD Fringe and outside CBD regions.

For 2021, office supply is poised to reach 1,000,000 sq ft, all of which are in the CBD region.

CIMB said this dearth of new supply in 2019 could be supportive of the rent recovery in late 2017 to early 2018.