Knight Frank

Rents inched up 1.6% to S$1.80 per square foot per month.

Government Land Sales accounted for half of the transactions.

Co-working operators expand their portfolios as demand for flex spaces grow.

Home prices have been on an upward trend for seven consecutive months.

Tenants have been looking for small to medium-sized shops with lower rents.

Landlords had to become creative to meet their tenants' changing needs.

The sector already surpassed the S$1.7b transacted in 2020.

There is pent-up demand but overall interest is likely to be subdued.

There were no new project launches in June.

Occupancy rate in the Raffles Place / Marina Bay precinct reached 94.3% in Q2.

Island-wide rents declined 9.3% to S$26.20 per square foot per month in Q2.

The APAC Prime Office Rental Index declined by just 0.8% despite Delta variant outbreaks.

51% also expect to move headquarters in the same time frame.

The total transaction value of S$836.1m in H1 2021 is already 91.6% of 2020’s totals.

Thanks to the rising e-commerce penetration rate and the shift towards omnichannel retailing.

The monthly rents for multiple-user factories were unchanged from the previous quarter at S$1.73 psf.