Singapore Market Outlook 2024
https://cushwake.cld.bz/singapore-market-outlook-2024
o
o
o o
o o
o o
o o
o o
o o o
With more options in the market, occupiers with expiring leases in 2024/2025 should take this opportunity to negotiate their leases. This window of opportunity may be fleeting as the market will return to a tight supply situation post-2024. “ ”
12
10
8
Rents (S$/sf/mo)
6
4
2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F
CBD Grade A
CBD Grade B
Decentralised All Grades
Pre-committed
Pre-committed
Pre-committed
10 20 30 40 50 60
US $billion
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
submarkets at 2%-4% yoy amidst recovering tourism. “ ”
Orchard prime retail rental growth should continue to outpace other
Notwithstanding potential spikes from marquee events and concerts, ARR growth is expected to ease in 2024 and stabilize around current levels, in view of higher hotel room supply, softening “revenge spending” and increased competition from regional tourist destinations such as Japan and South Korea. “
”
▪
▪ ▪
▪ ▪
Made with FlippingBook - Online Brochure Maker