Office rents in Singapore predicted to inch up by 0.3% in 4Q

Demand to pick up post 2013.

According to Knight Frank, as prospective tenants gear up to conclude office leases towards year end, leasing activity is expected to increase till end-November before the year-end vacation season. 

Knight Frank forecasts overall rents to inch up by around 0.3 per cent q-o-q in 4Q 2013, on the back of improving business sentiment, rising rent expectations from landlords and the addition of new office developments.

Average rents in the CBD area are likely to stay firm or register modest increases of between 0.2 to 0.3 per cent for the last quarter this year.

Looking ahead, demand for office spaces is envisaged to grow further after end-2013 and towards first half of 2014, as local and foreign business enterprises seek to relocate and expand their operations in Singapore.