What's New In Property

Office sector to remain star performer in 2019

It is quite clear the tide has turned for the Singapore office market, and the general bullishness reflects the positive outlook for rents over the next few years.
It is quite clear the tide has turned for the Singapore office market, and the general bullishness reflects the positive outlook for rents over the next few years.PHOTO: ST FILE

Singapore's Office Price Index rose by 5.7 per cent the whole of last year compared with a 2.4 per cent decline in 2017, according to statistics from the Urban Redevelopment Authority (URA).

With the index rising six straight quarters, accumulating a total gain of 8.9 per cent from the trough in the second quarter of 2017, office prices are just 0.07 per cent away from the all-time high in the second quarter of 2015 since the start of the century.

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A version of this article appeared in the print edition of The Sunday Times on February 03, 2019, with the headline 'Office sector to remain star performer in 2019'. Print Edition | Subscribe