Median office rentals on contract dates Singapore Q2 2018-Q4 2023, by category

Published by
R. Hirschmann,
May 29, 2024
In the fourth quarter of 2023, the median rental value on contract dates for office spaces in category 1 was 11.52 Singapore dollars per square foot per month (psf pm) and for category 2 was 6.04 Singapore dollars psf pm. The value of median office rentals have increased since the first quarter of 2021.

Value of median rentals on contract dates of office spaces in Singapore from 1st quarter 2018 to 4th quarter 2023, by category (in Singapore dollars per square foot per month)

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Source

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Release date

January 2024

Region

Singapore

Survey time period

Q2 2018 to Q4 2023

Supplementary notes

1 Singapore dollar is equal to 0.74 U.S. dollars and 0.69 euros as of March 2023.

According to the source, Category 1 office space “refers to office space in buildings located in core business areas in Downtown Core and Orchard Planning Area which are relatively modern or recently refurbished, command relatively high rentals and have large floor plate size and gross floor area.”
Category 2 refers to the remaining office space in Singapore which are not included in “Category 1”.

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