Occupier demand fell further in Q3.
Occupier demand continued to fall at a much slower rate than seen previously, with the net balance moving notably to -10 from -44, said RICS survey.
Meanwhile, availability continued to rise, with the net balance shifting to +30.
"In Singapore, occupier demand fell further in Q3 although the pace of decline was easing. Alongside this, growth in the amount of available
space registered a further rise. Not surprisingly, this is weighing on the rental outlook. Particularly, due in part to the current challenging
economic climate, rental expectations were more pessimistic in the office sector. As such, leasing incentives continued to play a significant role in this market," said RICS.
"A notable shift however has emerged in the investment market, where enquiries maintained their positive momentum for the second consecutive quarter. Moreover, expected transactions bounced back into positive territory, reflecting an improving outlook. This is feeding through into capital expectations, which have turned positive after four quarters of negative readings," it added.
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