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Singapore's office rental market ends 2013 on positive note

Published on Jan 6, 2014 4:03 PM

The office rental market in Singapore showed signs of picking up in the last quarter, as occupancies and rentals were higher than the year before.

The average monthly gross rents of Grade A office space in the Central Business District (CBD) climbed 2.1 per cent from the third quarter to reach $9.75 per sq ft (psf) a month at the end of December, according to data from property consultancy CBRE.

Grade A offices comprise the best-quality buildings in Raffles Place, Marina Bay and Marina Centre.

Monthly rents of Grade B offices - which refer to older or smaller office blocks - also climbed 2.1 per cent to $7.25 psf in the same period.

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