Quality A workplace rental fees in the CBD expanded by 2.7% q-o-q in 2Q2022 to reach $10.74 psf monthly, according to a JLL workplace report released on June 29. This marks a fifth consecutive quarter of development, along with the biggest growth considering that leas rebounded in 2Q2021.
Office leas have now recovered to simply 0.6% listed below the pre-pandemic top of $10.81 psf, according to JLL.
The strong efficiency during the quarter was underpinned by increasing company JCube Residence self-confidence as well as the relaxation of safe administration steps, as all workers were permitted to go back to the work environment from April 26.
” Expansions as well as brand-new set-ups far overshadowed work environment downsizing, leading to 2Q2022 net absorption of CBD Grade A workplace– at 0.6 million sq ft– reaching the highest possible in 17 quarters, notes Tay Huey Ying, JLL Singapore’s head of research and consultancy. …
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