Singapore Markets closed

CBD Grade A office occupancy rate edges up to 94.1%


It's the highest in almost 2 years.

According to Colliers International, business sentiment in Singapore remained generally positive on the back of intermittent positive economic news in 4Q 2012 as a result of a slew of stimulating measures implemented across the globe to spur economic growth.

Supported by healthy demand from tenants relocating to quality office space, the average occupancy rate of CBD Grade A office space strengthened further from 93.1% in 3Q 2012 to 94.1% in 4Q 2012, the highest level in almost two years.

"The increase in occupancy helped moderate the decline in rent for CBD Grade A office space to 0.6% QoQ, the slowest pace of decline since the market headed south a year ago," Colliers said.

More From Singapore Business Review