Singapore Office Rental Rates Guide By District
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.
How is office space rent calculated?
For office spaces, the rent is calculated per square foot, so you will be charged X amount per square foot per month.
So, what is the average rental rates for an office space in Singapore?
The average Singapore office rental rate varies between buildings, locations and districts, averaging from $2.56 to $8.06 per square foot per month among the 28 districts as of 07 July 2019.
The most affordable locations for rental office space in Singapore are Upper Bukit Timah in District 21, Katong and Marine Parade in District 15, and Geylang in District 14. At the other end of the scale, the most expensive areas include grade A office buildings in Marina Bay and Raffles Place of District 01 within the CBD, where office space rental rates reach $13.38 per square foot per month on average.
Within the Singapore CBD, there are areas where you can secure an affordable office lease. While Raffles Place and Marina Bay new financial district command high rents, you can find great deals in Tanjong Pagar and Cecil Street.
Apart from location, there are a number of other factors that affect Singapore office rental rates, including age and maintenance of building (i.e. grade A, grade B and grade C buildings), specifications of office space, size of office space, tenant mix in the building and amenities.
Not sure about the differences between grade A, grade B and grade C buildings? What about the ideal floor area and lease term, and the rental rates of each building? To better understand the complexities of the office space rental process, check out our article – The Singapore Office Rental Guide For New Tenants and let us recommend an office real estate agent to assist you.
Related Article: Singapore Office Space in CBD with The Latest Rental Rates
Singapore Office Rental Rates Guide By District
The table below shows the average office space rental rates in term of per square foot across the 28 districts in Singapore. Singapore district code was originally used as postal districts but have been widely used by real estate professionals and property seekers when referring to a location or an area.
District 01 and 02 have the highest concentration of office buildings in Singapore. The Singapore CBD is also found at the southern part of District 01 and South Eastern part of District 02.
Updated on 07 July 2019
The data in these tables are for reference only. We suggest you consult a real estate professional before making a transaction. for a recommendation of an office space finding expert, please click here. The service is absolutely FREE.
Average Office Space Rental Rates By Area (Central Region)
The table below is specially created to meet the expectation of our users. This list of office space rental rates consist of area in the Singapore CBD and those on the fringe of CBD where commercial activities are concentrated.
| Area | Region | Average Rental Rate (PSF/PM) | View Listing |
|---|---|---|---|
| Marina Bay | CBD | $13.38 | Click Here |
| Raffles Place | CBD | $10.52 | Click Here |
| Shenton Way | CBD | $9.50 | Click Here |
| Robinson Road | CBD | $8.48 | Click Here |
| Cecil Street | CBD | $7.74 | Click Here |
| Tanjong Pagar | CBD | $8.07 | Click Here |
| Orchard Road | CBD Fringe | $9.07 | Click Here |
| Bugis | CBD Fringe | $6.81 | Click Here |
| Beach Road | CBD Fringe | $9.16 | Click Here |
| City Hall | CBD Fringe | $7.75 | Click Here |
| Marina Centre | CBD Fringe | $13.03 | Click Here |
| Novena | CBD Fringe | $7.63 | Click Here |
| Chinatown | CBD Fringe | $6.56 | Click Here |
| HarbourFront | CBD Fringe | $7.38 | Click Here |
| Alexandra | CBD Fringe | $6.77 | Click Here |
| River Valley | CBD Fringe | $7.16 | Click Here |
The data in these tables are for reference only. We suggest you consult a real estate professional before making a transaction. for a recommendation of an office space finding expert, please click here. The service is absolutely FREE.
