# Average strata office prices rise despite fewer deals, while retail activity slows - **Source:** EdgeProp Singapore - **Published:** 2026-08-12T04:10:31.000Z - **Author:** EdgeProp Singapore - **Original:** https://www.edgeprop.sg/property-news/average-strata-office-prices-rise-despite-fewer-deals-while-retail-activity-slows - **Topics:** Commercial & Industrial, Transactions & Deals ## Featured rationale The divergence signals stronger demand for quality offices than retail units, potentially prompting pragmatic office pricing while steering retail buyers toward affordable, high-footfall premises. ## AI summary Singapore’s average strata office price rose 11.3% to $2,476 psf in 1H2026 despite transactions falling 16.5%, while strata retail prices declined 24.4% to $2,580 psf. ## Original article Singapore’s strata commercial property market delivered a mixed performance in the first half of this year, with the office segment proving more resilient than retail. According to Knight Frank’s research, 136 office transactions were recorded in 1H2026, easing by 16.5% from 2H2025. These deals amounted to $352.1 million, dipping slightly from $355.8 million in the second half of last year. Read also: KF Property Network to close, agents can opt to transition to OrangeTee; rest of Knight Frank's residential business intact The moderation was cushioned by an 11.3% rise in average unit prices, from $2,224 psf in the previous half-year period to $2,476 psf in the first half of this year. Knight Frank said the price increase suggests buyers and investors remained willing to pay a premium for well-located, quality strata office assets. Leasehold properties accounted for the bulk of strata office transactions, with 90 leasehold units changing hands, for a total of $227.2 million. That is down 19.8% from $283.4 million in the second half of 2025, when 125 units were sold. Even so, average prices held firm, edging up by 1.7% to $2,260 psf. Meanwhile, freehold office units recorded 46 deals, fetching a total of $124.9 million — jumping by 72.6% from $72.4 million across 38 units in 2H2025. The average unit price for freehold strata offices rose 34.0% to $2,999 psf over the same period. The largest strata office transaction by price quantum in 1H2026 was at GB Building on Cecil Street, where 10 units collectively fetched $22.5 million in February. That works out to $1,787 psf based on the combined strata area of 12,594 sq ft. Demand for strata offices remained concentrated in the Downtown Core Planning Area, where 49 units changed hands for a total of $187.5 million. Read also: Strata retail unit at Peninsula Plaza for sale at $7.95 mil Outside the CBD, demand was focused on established city-fringe locations such as the Singapore River and Geylang Planning Areas. The Kallang Planning Area stood out with 16 transactions amounting to $26 million — double the number of deals recorded in the second half of last year. The pickup in activity could signal growing confidence in Kallang's long-term commercial prospects, as the precinct's transformation under the Kallang Alive Master Plan gathers momentum, the consultancy wrote. Softer retail sales and prices Within the strata retail market, the report recorded a more pronounced pullback. There were 135 strata retail transactions in the first half of this year, down 27.0% from 2H2025. Total sales value fell in tandem, dropping 28.3% to $336.1 million, while average unit prices declined 24.4% to $2,580 psf over the same period. Of the total retail transactions logged in 1H2026, only four were above $10 million, compared with nine out of 185 deals in the previous half-year period. Read also: Duplex penthouse at 8 Orange Grove on the market for $12.8 mil The two largest transactions by price quantum in 1H2026 were part of a portfolio sale of retail assets from Mercatus, the real estate and investment arm of NTUC Group. These included the acquisition of two basement retail units at Bukit Timah Plaza for $65.4 million ($1,459 psf), and a unit at Coronation Shopping Plaza for $32.4 million ($3,177 psf), both acquired by Altallo Asset Management in February. Outlook for strata offices and retail Despite the muted activity in strata retail, the market has consistently transacted between 30 and 50 units in the $500,000 to $1 million price range every half-year since 1H2015. Knight Frank says this suggests there remains a pool of relatively more affordable opportunities that could appeal to owner-occupiers looking beyond leasing. The report adds that when acquiring a strata retail unit, locations with frontage and exposure to a regular stream of pedestrian traffic would be vital to business viability. That said, retailers and F&B operators that can successfully draw shoppers and diners to hole-in-the-wall locations in strata retail complexes might be able to find commercially feasible and cost-effective operating premises, outside of large landlord- or Reit-owned malls. In the strata office market, realistic pricing remains key to bridging the gap between buyers and sellers. While office prices remained resilient despite softer transaction volumes, some owners may eventually adopt more pragmatic pricing strategies to unlock liquidity. Knight Frank noted that if such pricing recalibration gathers pace, it could stimulate buying interest and improve market activity, particularly for well-located city-fringe and decentralised office assets, where boutique occupier and investor demand continues to be present. ## Chinese translation > Translation model: grok_cli ### 分层办公均价上涨尽管成交减少，零售交投放缓 GB Building录得最高价值分层办公成交；武吉知马路广场（Bukit Timah Plaza）与加冕购物广场（Coronation Shopping Plaza）领跑零售交易 今年上半年，新加坡分层商业地产市场表现参差，办公板块较零售更具韧性。 据莱坊（Knight Frank）研究，2026年上半年录得136宗办公交易，较2025年下半年回落16.5%。 这些交易总额为新币3.521亿元，略低于去年下半年的新币3.558亿元。 另读：KF Property Network将关闭，经纪可选择转投OrangeTee；莱坊其余住宅业务保持不变 成交回落被单位均价上涨11.3%所缓冲，由上半年度的每平方英尺新币2,224元升至今年上半年的每平方英尺新币2,476元。 莱坊表示，价格上涨显示买家与投资者仍愿为地段优越、素质良好的分层办公资产支付溢价。 租契产业占分层办公交易的大部分，共有90个租契单位易手，总额新币2.272亿元。较2025年下半年的新币2.834亿元（当时售出125个单位）下降19.8%。 即便如此，均价仍保持坚挺，微升1.7%至每平方英尺新币2,260元。 与此同时，永久地契办公单位录得46宗交易，总额新币1.249亿元——较2025年下半年38个单位共新币7,240万元跳升72.6%。 同期，永久地契分层办公单位均价上涨34.0%，至每平方英尺新币2,999元。 2026年上半年按成交金额计最大的分层办公交易位于Cecil Street的GB Building，2月共10个单位合计成交新币2,250万元。按合计分层面积12,594平方英尺计算，相当于每平方英尺新币1,787元。 分层办公需求仍集中于市中心核心规划区（Downtown Core Planning Area），共有49个单位易手，总额新币1.875亿元。 另读：Peninsula Plaza分层零售单位挂牌售价新币795万元 中央商务区以外，需求聚焦于已成熟的城市边缘地段，如新加坡河与芽笼规划区。 加冷规划区表现突出，录得16宗交易、总额新币2,600万元——成交宗数为去年下半年的两倍。 该咨询机构写道，交投回升可能显示市场对加冷长期商业前景信心增强，因该片区在加冷活力总体规划（Kallang Alive Master Plan）下的转型正蓄势推进。 零售销售与价格偏软 在分层零售市场，报告录得更明显的回撤。今年上半年共有135宗分层零售交易，较2025年下半年下降27.0%。 销售总额同步下滑，跌28.3%至新币3.361亿元，单位均价同期下降24.4%至每平方英尺新币2,580元。 2026年上半年录得的零售交易中，仅有四宗超过新币1,000万元，而上一半年度185宗交易中有九宗。 另读：8 Orange Grove复式顶层单位挂牌售价新币1,280万元 2026年上半年按成交金额计最大的两宗交易，属于NTUC集团房地产与投资臂膀Mercatus零售资产组合出售的一部分。 其中包括Altallo Asset Management于2月收购武吉知马路广场（Bukit Timah Plaza）两个地下室零售单位，成交价新币6,540万元（每平方英尺新币1,459元），以及加冕购物广场（Coronation Shopping Plaza）一个单位，成交价新币3,240万元（每平方英尺新币3,177元）。 分层办公与零售展望 尽管分层零售交投偏淡，自2015年上半年以来，市场每半年度在新币50万至100万元价位区间持续成交约30至50个单位。 莱坊表示，这显示仍有相对更可负担的机会池，可能吸引希望超越租赁、转为自用的业主。 报告补充，在购入分层零售单位时，拥有临街面、并能接触稳定人流的地段，对业务可行性至关重要。 话虽如此，若零售商与餐饮营运商能成功将顾客吸引至分层零售综合体内的“隐秘角落”店址，或许能在大型业主或房地产投资信托（Reit）持有的商场之外，找到商业上可行且成本效益较高的营运场所。 在分层办公市场，务实定价仍是弥合买卖双方差距的关键。 尽管成交量偏软，办公价格仍具韧性，部分业主最终或会采取更务实的定价策略以释放流动性。 莱坊指出，若此类价格重估加速推进，或可刺激购买兴趣并改善市场交投，尤其是地段优越的城市边缘与去中心化办公资产，精品型租户与投资者需求在这些板块仍持续存在。