# Singapore Grade A office rents rise for sixth straight quarter in Q2

- **Source:** Real Estate Asia
- **Published:** 2026-06-30T01:02:43.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-office/news/singapore-grade-office-rents-rise-sixth-straight-quarter-in-q2
- **Topics:** Commercial & Industrial, Government & Policy, Regional Markets

## Featured rationale

Record-low 3.3% vacancy and no significant completions through 2027 signal landlord pricing power, potentially supporting further rent growth and earlier tenant pre-commitments.

## AI summary

Singapore Core CBD Grade A office rents rose 0.8% quarter-on-quarter to S$12.50 per sq ft monthly in Q2 2026, their sixth consecutive increase.

## Original article

Monthly rents increased by 0.8% to S$12,50 per sq ft.

Singapore's Core CBD Grade A office market extended its rental growth streak in the second quarter of 2026, with rents rising 0.8% quarter-on-quarter to S$12.50 per sq ft per month despite ongoing economic uncertainty and geopolitical tensions, according to CBRE Research.

The latest increase marks the sixth consecutive quarter of rental growth, taking cumulative gains to 1.6% in the first half of 2026. CBRE has maintained its forecast for approximately 5% year-on-year rental growth by the end of the year, citing continued structural undersupply and signs of improving macroeconomic stability.

Tricia Song, Head of Research, Singapore and Southeast Asia at CBRE, said landlords continue to enjoy significant pricing power as Core CBD Grade A vacancy has fallen sharply from 7.8% in the fourth quarter of 2024, following the completion of IOI Central Boulevard Towers, to a record low of 3.3% in Q2 2026.

"The market's continued performance reflects a structural imbalance between occupier demand and available supply," Song said, noting that the completion of Shaw Tower in the Fringe CBD marks the end of meaningful new office supply in 2026, with no significant completions expected through 2027.

Shaw Tower, which received its Temporary Occupation Permit during the quarter, has secured major tenants including Allianz, Adyen, Sanofi-Aventis Singapore and The Great Room. Together with Keppel South Central, the development provides occupiers with an alternative to the increasingly constrained Core CBD market.

CBRE said leasing demand remained broad-based across sectors and locations. Financial services firms continued to expand, while artificial intelligence companies increasingly moved from flexible coworking spaces into permanent offices, reflecting their long-term commitment to Singapore. Demand also remained active in decentralised markets such as Alexandra and Paya Lebar, driven by occupiers from the public, consumer goods, professional services and education sectors. The withdrawal of HarbourFront Centre from active office stock further tightened market conditions, reducing islandwide vacancy from 5.6% in Q1 to 3.6% in Q2.

David McKellar, Head of Leasing, Singapore at CBRE, said the diversity of occupier demand is strengthening confidence in the market's recovery.

"We are no longer seeing growth carried by one or two dominant sectors," McKellar said. "Financial services remain active, but they are now joined by a meaningful cohort of AI businesses of all sizes, as well as professional services occupiers, among others, in decentralised locations."

CBRE also noted rising enquiry levels from hedge funds, quantitative trading firms and AI companies, with pre-commitment activity for developments due for completion in 2028 and 2029 becoming an increasingly important part of the leasing pipeline as quality office options diminish.

Looking ahead, CBRE expects Singapore's Core CBD Grade A office market to remain supported by tight supply, with potential upside to rental growth should global economic conditions improve in the second half of 2026. The consultancy said Singapore's office market has historically demonstrated resilience through periods of geopolitical and macroeconomic uncertainty, with landlords adopting flexible leasing strategies likely to be well positioned to capture future demand.

## Chinese translation

> Translation model: grok

### 新加坡甲级写字楼租金连涨六季，第二季度再升

2026年第二季度，新加坡核心中央商务区甲级写字楼市场租金连续第六季上涨，环比升0.8%至每平方英尺12.50新元。

月租金环比上涨0.8%，至每平方英尺12.50新元。

据世邦魏理仕研究部（CBRE Research），尽管经济前景仍不明朗、地缘政治紧张持续，新加坡核心中央商务区（Core CBD）甲级写字楼市场在2026年第二季度延续租金升势，环比上涨0.8%，至每月每平方英尺12.50新元。

最新涨幅标志着租金连续第六个季度增长，2026年上半年累计升幅达1.6%。世邦魏理仕维持年底租金同比约5%增长的预测，理由是结构性供应不足持续，以及宏观经济稳定出现改善迹象。

世邦魏理仕新加坡与东南亚研究主管宋翠芝（Tricia Song）表示，业主定价权依然较强，因核心CBD甲级空置率已从2024年第四季度IOI Central Boulevard Towers落成后的7.8%，大幅降至2026年第二季度创纪录低位的3.3%。

“市场持续表现反映了租户需求与可用供应之间的结构性失衡，”宋氏说，并指出边缘CBD的邵氏大厦（Shaw Tower）落成，标志着2026年有实质意义的新增写字楼供应告一段落，直至2027年预计亦无重大落成项目。

邵氏大厦于本季度取得临时入伙准证（TOP），已锁定安联（Allianz）、Adyen、赛诺菲新加坡（Sanofi-Aventis Singapore）与The Great Room等主要租户。连同吉宝南中央（Keppel South Central），该项目为租户提供日益紧张的核心CBD市场之外的替代选择。

世邦魏理仕表示，租赁需求在各行业与各区域仍较广泛。金融服务机构持续扩张，人工智能企业则越来越多地从灵活共享办公迁入长期固定办公室，体现对新加坡的长期承诺。亚历山大（Alexandra）与巴耶利峇（Paya Lebar）等去中心化市场需求亦保持活跃，推动力来自公共部门、消费品、专业服务与教育等租户。海港城中心（HarbourFront Centre）退出活跃写字楼存量，进一步收紧市场，全岛空置率由第一季度的5.6%降至第二季度的3.6%。

世邦魏理仕新加坡租赁主管David McKellar表示，租户需求的多元化正增强市场复苏信心。

“我们不再看到增长仅由一两个主导行业扛起，”McKellar说。“金融服务依然活跃，但如今还有各规模有意义的AI企业群体，以及专业服务等租户出现在去中心化地段。”

世邦魏理仕还指出，对冲基金、量化交易公司与AI企业的询盘上升；随着优质写字楼选择减少，针对2028年与2029年落成项目的预租活动，正日益成为租赁管线的重要组成部分。

展望未来，世邦魏理仕预计新加坡核心CBD甲级写字楼市场将继续获得供应紧张支撑；若2026年下半年全球经济状况改善，租金增长或有上行空间。该咨询机构称，新加坡写字楼市场历来在地缘政治与宏观经济不确定时期展现韧性，采取灵活租赁策略的业主有望更好把握未来需求。