SINGAPORE OFFICE SPACE RENTALS
Looking for a Rental Office Space But Not Knowing Where To Start?
Whether you need a small office space for your startup, or a grade A office in the Singapore CBD to house your head office, we have the space for you. Featuring more than 1,500 unique office listings which are regularly updated, officefinder.com.sg is the number one resource for businesses that are seeking office space in Singapore.
TOP LOCATIONS FOR RENTING SINGAPORE OFFICE SPACE
Cost of office space, size and office locations are 3 key factors every business considers when renting an office space. We have put together some of the most sought-after office locations for your easy navigation. Raffles Place, Marina bay and Tanjong Pagar are on top of the list of most tenants when selecting an office location in the Singapore CBD. For areas outside the CBD, Orchard Road, Tampines, Paya Lebar, Bouna Vista and Jurong East are some of the popular options
Q3 2023 Office Rental Trends: 4.9% Growth, Rising Supply, Reduced Vacancy
In Q3 2023, office rentals increased by 4.9%, a significant improvement over the previous quarter's 2.3% rise. The available office space supply at the end of Q3 2023 reached 1,097,000 sq m GFA, exceeding the previous quarter's 927,000 sq m GFA, indicating a growing supply.
Occupied office space expanded by 23,000 sq m (nett) in Q3 2023, compared to a larger increase of 30,000 sq m (nett) in the previous quarter. However, the overall stock of office space decreased by 42,000 sq m (nett) in Q3 2023, a more substantial reduction than the 7,000 sq m (nett) decrease in the previous quarter.
As a result, the island-wide office space vacancy rate decreased from 10.8% at the end of the previous quarter to 10.0% by the close of Q3 2023, indicating a positive trend of reduced office space vacancies.
When looking for an office space in Singapore, office rental cost is often a huge deciding factor. Singapore Office rental rates vary significantly between districts and even locations within the same district, particularly in Singapore CBD, so it can be difficult to know how much you should be paying when come to office leasing in Singapore. This Singapore Office Rental Rates Guide provides businesses an idea of the average rent of office space in each district helping businesses narrow down the areas they should be focusing with their rental budget.