A surge in demand for office space in the Downtown Core saw the office rental index registering its fifth consecutive quarterly rental increase with a rise of 2.5 per cent for the three months ended Sept 30, compared with the preceding quarter.
The rise is on the back of a 3 per cent climb in the index for the Central Area, the strongest rental growth since the second quarter of 2014. The index in the Fringe Area also rose 0.2 per cent in the third quarter, but it is the slowest pace of increase this year, and pales in comparison with the 2.5 per cent climb in the three months ended March 31 and 1.7 per cent increase in the second quarter.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you