Chart of the Day: Office rents slipped for the first time in six quarters

The good days are over for landlords.

Singapore's office rents slipped in the second quarter, ending the consecutive run of six quarters of growth since the fourth quarter of 2013.

According to CBRE, Grade A rents corrected 0.9% quarter-on-quarter to reach $11.30psf/month, while Grade B rents corrected 0.6% quarter-on-quarter to $8.55psf/month.

"There is some concern around the wave of new development completions scheduled from H2 2016 should the slowdown in demand persist. Looking ahead, CBRE Research expects further downward pressure on rents with supply likely to outweigh demand in the short to medium term. There is also greater caution in the occupier community and which may impact expansion and leasing volume," CBRE said.