Based on a market report published by JLL, Grade A office rents in the Central Business District (CBD) are set to reach a 17-year high of $12.04 psf per month (PM) in 1Q2026, up 0.5% QoQ over the first three months of this year. Similarly, a market report by CBRE also said that Grade A office rents in the core CBD, which covers areas like Shenton Way and Marina Bay, increased for the fifth consecutive quarter to an average of Rs 12.40 psf per month. Office demand is supported by a relatively more stable business environment and rental growth is expected to remain on an upward trend despite ongoing headwinds from geopolitical uncertainty, higher costs for construction and hybrid work arrangements impacting corporate real estate decisions. With organizations investing in smaller, best-in-class spaces, Singapore’s office market will be characterized by a powerful concentration of demand at the top level, says Andrew Tangye, head of office leasing and advisory at JLL Singapore.
