What is the office price trend in Singapore?

Office price trends in Singapore have shown a mixed pattern in 2025, with fluctuations between quarters. In the second quarter of 2025, overall office rents fell by 0.3% quarter-on-quarter, reversing the modest gains made in the previous quarter. However, in the third quarter of 2025, rents for Grade A offices in the Core CBD increased by 0.8% quarter-on-quarter, reaching 12.20 dollars per square foot per month.

Underlying these movements, prime office rents have continued to rise due to limited new supply and ongoing “flight to quality” as businesses seek higher quality office spaces. The strata office market also saw higher transaction values in the first half of 2025 compared to the preceding period, indicating sustained investor interest despite broader market fluctuations.

Singapore’s real estate market remains sensitive to broader economic conditions, and expectations of slowing economic growth in 2025 could impact property demand. However, demand for prime and high-quality office spaces has appeared resilient, underpinned by supply constraints and evolving business needs.