Office vacancy rate inched higher to 10% in 1Q

A slight increase from the previous quarter.

According to the Urban Redevelopment Authority, the amount of occupied office space increased by 6,000 sq m (nett) in 1st Quarter 2014, compared to the 30,000 sq m (nett) increase in the previous quarter.

The stock of office space increased by 15,000 sq m (nett) in 1st Quarter 2014, compared to the increase of 51,000 sq m (nett) in the previous quarter. As a result, the island-wide vacancy rate of office space at the end of 1st Quarter 2014 increased to 10.0%, from 9.9% at the end of 4th Quarter 2013.

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