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Office space prices rise 3.1% in Q2

In Q2, occupancy decreased by 20,000 sq m.

Office space prices increased by 3.1% in Q2, compared to a 1.2% decrease in Q1. Rentals for office space also rose by 3.1% in Q2, following a 1.7% decrease in Q1.

Overall office supply for Q2 reached 1.01 million sq m gross floor area (gfa), down from 1.12 million sq m gfa in Q1.

In the same period, occupancy decreased by 20,000 sq m, a significant rise from the 9,000 sq m decrease in the previous quarter.

Meanwhile, the stock of office space rose by 87,000 sq m in Q2, doubling from 41,000 sq m in Q1. This resulted in a 10.8% increase in the island-wide vacancy rate of office space in Q2, up from 9.6% in the previous quarter.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley