Raffles Place office rents rise in Q2 for first time since 2011: Jones Lang LaSalle
Office rents in Singapore eked out their first sequential rise since 2011 in the second quarter of this year, property consultancy Jones Lang LaSalle (JLL) said in a report on Monday.
They inched up 0.6 per cent from the first quarter of this year to the second quarter due to limited leasing options, JLL said.
It tracked Grade A net effective office rents in Raffles Place, which were US$720 per square metre per year on average in the second quarter. This translates to about $7.13 per square foot per month.
However, that figure was 3.1 per cent lower year-on-year.