Singapore Office Rental Rates Guide By District

Singapore Office Rental Rates on District Map , Office Rental Singapore

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 Rental In Singapore Calculated?

We know that when hunting for a residential property, real estate agents will often tell you the total rent you need to pay monthly. For instance, for a house with land size of 8,000 square feet, the property agent may tell you the asking monthly rent is $12,000.

Whereas, for office rental in Singapore, commercial real estate agents will usually quote you the rent in per square foot per month. If you enquire for an office space of 5,000 square feet, the office leasing agent may tell you that the office rental rate is $11.00 per square foot per month instead of $55,000 per month.

Why is that so? In residential real estate, the properties we are visiting or renting have fixed land area and built up area. However, for office leasing in Singapore, the landlord may consider subdividing the space to a smaller floor area if you do not need that much space or amalgamate two or even multiple adjoining office units into one large office space to meet your needs.

That is why when come to office rental, tenant is charged per square foot per month depending on the floor area acquired. So, the rent is calculated by taking the rental rate (i.e. per square foot per month) multiplying the total floor area of your rental space. That gives you the monthly rent.

What Is The Office Rental Rates In Singapore?

The Singapore office rental rates  varies between buildings, locations and districts. The 75th Percentile rental rates range from $4.45 to $10.12  per square foot per month among the 28 districts as of 20 June 2020. Comparing to the last updates on 01 March 2020, we are seeing lower transaction volume, especially Grade A offices which command higher rental rates.

The most affordable locations for rental office space in Singapore are Little India and Serangoon Road in District 08, Balestier Road and Toa Payoh in District 12, and Pasir Panjang in District 05. At the other end of the scale, the most expensive areas include grade A office buildings in Marina Bay and Marina Centre of District 01, where the 75th percentile office rental rates reach $12.26 and $11.48 per square foot per month respectively.

Within the Singapore CBD, there are areas where you can secure an affordable office lease. While Raffles Place and Marina Bay new financial district remain the most expensive office areas, you can find great deals in Tanjong Pagar and Cecil Street.

Apart from location, there are a number of other factors that affect office leasing rate in Singapore, 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 available 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 Across 28 Districts

The table below shows the office rental rates in term of per square foot per month across the 28 districts in Singapore. The rental rates shown are at the 75th percentile level of each district. This means that 75 percent of the rental transactions were at or below that level.

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.

Infographic chart showing the Singapore office rental rates across 28 districts (chart updated on 22 June 2020)

 

DISTRICTAREARENTAL RATE
28 - North EastSeletar, Yio Chu Kang-
27 - NorthAdmiralty, Sembawang, Yishun-
26 - NorthUpper Thomson, Yio Chu Kang-
25 - NorthAdmiralty, Woodlands-
24 - Far North WestKranji, Lim Chu Kang, Sungei Kadut, Tengah-
23 - North WestBukit Batok, Choa Chu Kang, Hillview Avenue, Upper Bukit Timah-
22 - WestBoon Lay, Jurong$5.16
21 - Central WestClementi, Upper Bukit Timah-
20 - Central NorthAng Mo Kio, Bishan, Braddell Road, Thomson-
19 - North EastHougang, Punggol, Sengkang-
18 - EastPasir Ris, Simei, Tampines$5.30
17 - EastChangi, Loyang-
16 - EastBedok, Upper East Coast-
15 - EastKatong, Marine Parade, East Coast$4.70
14 - Central EastPaya Lebar, Eunos, Geylang$5.31
13 - Central EastPotong Pasir, Macpherson-
12 - CentralBalestier, Toa Payoh$4.57
11 - CentralNovena, Newton, Thomson, Bukit Timah$4.73
10 - CentralTanglin Road, Grange Road, Holland, River Valley$5.57
09 - CentralOrchard Road, River Valley, Cairnhill, Killiney$8.20
08 - CentralLittle India, Farrer Park, Serangoon Road$4.45
07 - SouthBeach Road, Bencoolen Street, Bugis, Rochor$6.65
06 - SouthCity Hall, High Street, North Bridge Road, Beach Road$5.50
05 - South WestBuona Vista, Dover, Pasir Panjang, West Coast$4.68
04 - SouthHarbourFront, Telok Blangah$7.38
03 - Central SouthAlexandra Road, Tiong Bahru, Queenstown$5.16
02 - South (CBD)Anson Road, Chinatown, Tanjong Pagar$7.87
01 - South (CBD)Boat Quay, Raffles Place, Marina Centre, Cecil Street, Robinson Road, Shenton Way$10.12

Data Updated on 20th June 2020

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.

Office Leasing Rate By Area

If you have no idea about the Singapore District Code, we have included another table of office leasing rate by area. These areas are the most popular office locations in Singapore. These areas are subdivided from each business district hence offering more precise rental rates. A good example is District 01, this district has the most concentration of office buildings in Singapore. It has been broken down into 6 areas including marina bay, Raffles Place, Shenton Way, Robinson Road, Cecil Street and marina Centre.

As of 20th June 2020, Marina bay recorded the highest 75th percentile rental rates of $12.26 per square foot per month across the country, following marina Centre which consist of Suntec City, Centennial Tower and Millenia Tower with the 75th percentile rental rate at $12.15 per square foot per month.

Areas where the most affordable rental office spaces are available include Jurong East, Chinatown, Marine Parade, Tampines and some of the old office buildings in City hall and Bugis.

Infographic chart showing the Singapore Office Leasing Rates By Area (Chart updated on 22 June 2020)

To view the available office space in each location, hit “click here” on the extreme right column of the respective row.

Note: PSF/PM refers to per square foot per month
Area RegionAverage Rental Rate (PSF/PM)View Listing
Marina Bay CBD$12.26Click Here
Raffles Place CBD$9.48Click Here
Shenton Way CBD$8.00Click Here
Robinson RoadCBD$8.61Click Here
Cecil Street CBD$7.15Click Here
Tanjong Pagar CBD$6.58Click Here
Orchard Road CBD Fringe$7.28Click Here
Dhoby GhautCBD Fringe$9.14Click Here 
Bugis CBD Fringe$5.71Click Here
Beach RoadCBD Fringe$8.78Click Here
City HallCBD Fringe$6.13Click Here
Marina Centre CBD Fringe$11.48Click Here
Novena CBD Fringe$5.32Click Here
ChinatownCBD Fringe$5.04Click Here
HarbourFront CBD Fringe$7.20Click Here
Alexandra CBD Fringe$4.35Click Here
River Valley CBD Fringe$6.62Click Here
Bouna Vista West Region-Click Here 
Jurong East West Region$5.16Click here 
Marine Parade Eat Region$6.23Click Here
Paya Lebar East Region$5.37Click Here 
Tampines East Region$5.31Click Here 

Data Updated on 20th June 2020

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.

Disclaimer

We make reasonable effort to use reliable and comprehensive information to generate the data, graphs, tables and contents, but we make no representation that these are accurate or complete. The data, graphs, tables and contents above provide information as reference resource for your personal consumption only. It is not intended to be and does not constitute financial advice, investment advice or any other advice. We suggest that you should seek professional advice from real estate salespersons or use our Find Agent feature to request a qualified office real estate agents to assist you.

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