SINGAPORE’S prime office rents are still among the highest in the Asia-Pacific region, despite being on a downward trend.
Commercial real estate consultancy Colliers International ranked Hong Kong, Tokyo and Singapore as the three most expensive office locations among 28 Asia-Pacific cities in Q1, 2013.
The ranking has held steady since Q1, 2011, when Hong Kong beat Tokyo to the top spot. Singapore has been ranked third since Q3, 2009.
Annual gross rents of Singapore’s CBD Premium and Grade A office space in the first quarter were US$81.19 per sq ft, US$13.53 higher than fourth placed Sydney.