Grade A office rents in the Central Business District (CBD) have hit a 17-year high of $12.04 psf per month (pm) in 1Q2026, inching up 0.5% q-o-q over the first three months of this year, based on a market report published by JLL.
Likewise, a market report by CBRE also noted that Grade A office rents in the core CBD, which covers zones like Shenton Way and Marina Bay, climbed for the fifth consecutive quarter to hit an average of $12.40 psf pm.
Office demand has been supported by a relatively more stable business environment and rental growth is expected to remain on an upward trajectory despite ongoing headwinds from geopolitical uncertainty, compounded by higher costs for construction, and hybrid work arrangements influencing corporate real estate decisions.
With organisations investing in smaller, best-in-class spaces, Singapore’s office market will likely be characterised by a powerful concentration of demand at the top end, says Andrew Tangye, Head of Office Leasing and Advisory at JLL Singapore….
