# Singapore holds 10th spot in global prime office cost ranking

- **Source:** Real Estate Asia
- **Published:** 2026-08-11T04:50:53.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/news/singapore-holds-10th-spot-in-global-prime-office-cost-ranking
- **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets

## Featured rationale

Low vacancy, limited new supply and expansion demand from financial firms signal resilient premium-office demand, which could support healthy occupancy and rental growth.

## AI summary

Singapore ranked 10th globally for prime office occupier costs at USD158.52 (SGD202.81) per square foot annually, while CBD Grade A vacancy fell to 5.6%.

## Original article

CBD Grade A vacancy fell to 5.6% as expansion deals dominate global leasing activity.

Singapore ranks 10th globally for annual net effective occupier costs, with Hong Kong and Tokyo remaining Asia-Pacific's most expensive office markets, according to Savills' latest Prime Office Costs report.

Singapore's annual net effective occupier cost stands at $202.81 (US$158.52) per square foot. The global findings are broadly consistent with trends observed in Singapore, where CBD Grade A office vacancy fell to 5.6%, reflecting continued demand for premium office space.

"Coupled with the limited supply of new office developments, premium office buildings continue to record healthy occupancy levels and rental growth. Leasing activity has also been supported by pockets of expansion demand from the financial services and hedge fund sectors," Alan Cheong, executive director of Research and Consultancy at Savills Singapore.

The findings come alongside Savills' latest Market Makers report, which shows that expansionary leasing accounted for 58% of major office transactions globally in the first half of 2026, signalling growing occupier confidence. Only 5% of top office deals involved occupiers reducing space, whilst the share relocating or renewing at a similar footprint fell to 37% in H1 2026, down from 44% in H2 2025.

Savills examined the top 10 deals by size in 47 cities around the world for its H1 Market Makers report. Flexible office providers were the occupier group most likely to expand their space in the first half of 2026, with 78% of their deals representing expansions. More than half (56%) of these deals were for new office space within markets where they already have a presence, suggesting flex providers are deepening their footprint in selected cities.

AI companies are emerging as one of the fastest-growing occupier groups in the prime global office market, accounting for 17% of all prime technology sector deals in H1 2026, up from 3% in H1 2024. Savills says every single deal by an AI business in H1 2026 was expansionary, reflecting the sector's rapid growth, significant capital investment, and the accelerating demand for talent. AI leasing activity remains heavily concentrated in a handful of established innovation clusters, dominated by San Francisco, but Seattle and London's West End have also seen notable activity in the first half of the year.

Net all-in prime office occupier costs, rent plus fit-out costs, rose 1% in Q2 2026, bringing the year-on-year change to 5.3%. EMEA and Asia-Pacific each recorded rises of 0.5%, while North America rose 2.1%. Cities with significant quarterly cost increases include San Francisco at 7.7%, Downtown New York at 5.6%, Washington DC at 4.0%, Seoul at 3.8%, and Melbourne at 3.6%.

"There are some notable markets witnessing a slowing pace of occupier cost growth for best-in-class offices, including primary markets in mainland China, which are experiencing slower demand and increased availability as new developments and refurbishments complete. This new inventory is creating pockets of opportunity for businesses to access high-quality space at a more moderate cost," said Rick Schuham, CEO of Global Occupier Services at Savills.

($1.2794 = US$1)

## Chinese translation

> Translation model: grok_cli

### 新加坡在全球顶级写字楼成本排名中位列第10

新加坡顶级写字楼成本全球排名第10，年成本为每平方英尺158.52美元（202.81新元），中央商务区甲级写字楼空置率为5.6%。

中央商务区甲级写字楼空置率降至5.6%，扩张性成交主导全球租赁活动。

根据第一太平戴维斯（Savills）最新发布的《顶级写字楼成本报告》（Prime Office Costs），新加坡在全球年度净有效承租成本排名中位列第10，香港和东京仍是亚太地区最昂贵的写字楼市场。

新加坡的年度净有效承租成本为每平方英尺202.81新元（158.52美元）。全球调查结果与新加坡观察到的趋势大体一致：中央商务区甲级写字楼空置率降至5.6%，反映出对优质办公空间的持续需求。

第一太平戴维斯新加坡研究与咨询执行董事钟廷光（Alan Cheong）表示：“再加上新建写字楼供应有限，优质办公楼继续录得健康的出租率和租金增长。金融服务和对冲基金板块局部的扩张需求，也支撑了租赁活动。”

上述发现与第一太平戴维斯最新的《市场推动者报告》（Market Makers）一并发布。该报告显示，2026年上半年，扩张性租赁占全球主要写字楼交易的58%，显示承租人信心增强。仅5%的顶级写字楼成交涉及承租人缩减面积，而搬迁或按相近面积续租的占比在2026年上半年降至37%，低于2025年下半年的44%。

第一太平戴维斯在其2026年上半年《市场推动者报告》中，考察了全球47个城市按面积计的十大成交。共享办公运营商是2026年上半年最可能扩大面积的承租群体，其78%的成交属于扩张。这些成交中超过一半（56%）是在其已有布局的市场内租用新办公空间，显示共享办公运营商正加深在选定城市的布局。

人工智能公司正成为全球顶级写字楼市场增长最快的承租群体之一，占2026年上半年所有顶级科技板块成交的17%，高于2024年上半年的3%。第一太平戴维斯表示，2026年上半年人工智能企业的每一笔成交均为扩张性租赁，反映出该行业快速增长、大量资本投入以及对人才需求的加速。人工智能租赁活动仍高度集中在少数成熟创新集群，以旧金山为主，但西雅图和伦敦西区在今年上半年也出现显著活动。

包含租金与装修成本的净综合顶级写字楼承租成本在2026年第二季度上升1%，同比变动达5.3%。欧洲、中东及非洲与亚太地区各录得0.5%的升幅，北美则上升2.1%。季度成本显著上升的城市包括旧金山7.7%、纽约市中心5.6%、华盛顿特区4.0%、首尔3.8%以及墨尔本3.6%。

第一太平戴维斯全球承租服务首席执行官Rick Schuham表示：“一些值得关注的市场正出现顶级写字楼承租成本增速放缓，包括中国内地的主要市场，这些市场因新建及翻新项目陆续交付，需求放缓、可租面积增加。这些新增供应为企业以更温和的成本获取高质量空间创造了局部机会。”

（1.2794新元 = 1美元）