Singapore grade A office rents forecast to rise 5% in 2026

Tight supply is expected to support office rents through the year.

The outlook for Singapore’s office market remains cautiously positive, with continued rental growth expected through 2026 despite global macroeconomic and geopolitical uncertainty, according to CBRE.

CBRE Research said limited new Grade A supply in the Core CBD, combined with sustained occupier demand, is expected to maintain a landlord-favourable environment over the near term. Only one major office completion, Shaw Towers, is scheduled for 2026, contributing to ongoing scarcity of large contiguous floorplates above 20,000 sq ft.

CBRE highlighted that tight availability is already influencing occupier behaviour, with pre-commitment activity emerging for developments scheduled for completion as far out as 2029, reflecting urgency among tenants to secure quality space.

According to CBRE, no material signs of occupier space rationalisation have been observed so far, although this remains a key area to monitor given external uncertainty. The firm added that Singapore has historically shown resilience through cycles, with some occupiers choosing to renew leases rather than relocate during periods of volatility, helping to support low vacancy conditions.

CBRE Head of Research for Singapore and Southeast Asia Tricia Song said the tight demand-supply balance is expected to keep rents well supported throughout 2026. CBRE Head of Office Services David McKellar added that landlords of high-quality assets are operating in a distinctly favourable environment due to structural scarcity in the Core CBD.

CBRE maintained its forecast for approximately 5% year-on-year rental growth for Core CBD Grade A offices by end-2026, noting that while external volatility may moderate momentum, strong demand and constrained supply are expected to remain the dominant market drivers.