Office Rents to Surpass Pre-pandemic Peak in 3Q2022 by JLL
Grade A workplace rents in the CBD grew by 2.7% q-o-q in 2Q2022 to reach $10.74 psf per month, according to a JLL office record launched on June 29. This notes a fifth consecutive quarter of development, along with the biggest growth given that leas rebounded in 2Q2021.
Workplace rental fees have actually now recuperated to just 0.6% listed below the pre-pandemic top of $10.81 psf, according to JLL.
The solid efficiency throughout the quarter was underpinned by climbing service self-confidence as well as the leisure of risk-free administration steps, as all staff members were allowed to return to the workplace from April 26.
” Expansions and also new set-ups much outweighed workplace downsizing, resulting in 2Q2022 internet absorption of CBD Grade A workplace– at 0.6 million sq ft– reaching the greatest in 17 quarters, notes Tay Huey Ying, JLL Singapore’s head of research and also working as a consultant. …
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