Opportunities for Resilient Occupiers | Office Q2 2020

Download Report
Colliers Research Singapore Office Quarterly Report Q1 2020

Colliers expects rents to continue declining in 2020, as leasing demand shrunk with the global slowdown. Occupiers should rationalise space requirements and consider a Flex and Core or split-office strategy.


Q2 2020 saw the effects of the coronavirus (COVID-19) outbreak to be more apparent on CBD Grade A rents in Singapore's central business district (CBD), as average rents declined 1.2% quarter-on-quarter (QOQ) to S$10.00 psf. Rents are expected to decline 5% in 2020 before rebounding with the economy in 2021.

New demand was driven mainly by previous commitments from flexible workspace operators, such as JustCo's new branch at OCBC Centre East and the launch of Arcc Spaces's flagship centre at One Marina Boulevard.

With leasing demand expected to continue weakening amid the global economic slowdown, landlords are likely to offer more incentives, creating a more tenant-favourable environment.

Download Colliers' latest quarterly report on the office market as we examine the shifting trends and outlook, with expert recommendations for occupiers.


2019 Q4 Singapore Office Quarterly Report Colliers 1024x1024

Opportunities for Resilient Occupiers | Office Q2 2020

Download Report
Related Experts

Rick Thomas

Executive Director

Singapore

As Executive Director of Occupier Services in Singapore, I have  over 20 years of experience in commercial real estate.  Based in Singapore, my responsibilities are focused on servicing the real estate needs of large multinational occupiers clients across Asia Pacific than span office leasing, industrial leasing and project management.

View expert

Jerome Wright

Senior Director

Singapore

Colliers Singapore, Senior Director and Team Leader of CMIS - Capital Markets. As the head of Capital Markets and Investment Services for Commercial, Jerome provides strategic investment advisory and brokerage services to clients, focusing on investment-grade properties. He delivers clients so that they can maximise all real estate investment opportunities in Singapore

Jerome has over 15 years of real estate experience in the field of corporate commercial investment & leasing in Singapore, and the UK. MRICS and CEA qualified, I have extensive transactional and mediation experience acquired principally in the Singapore market advising both investor/developer clients and occupier clients. Prior to joining Colliers, Jerome was Director, Commercial Leasing at an international real estate agency firm where he oversaw large projects, providing blue chip corporate clients with strategic advice to fulfill their real estate needs in Singapore.

View expert

Shirley Wong

Senior Associate Director

Singapore

View expert

Tricia Song

Director and Head

Singapore

Tricia Song is a Director and the Head of Research at Colliers International Singapore. Ms Song brings with her more than 13 years of experience in real estate equity research and capital markets in Singapore and ASEAN. Before Colliers, she was the lead analyst for the Singapore Real Estate and REITs sector at Equity research at Barclays Bank PLC and before that at Credit Suisse, HSBC, CIMB-GK, and UOB KayHian. She was the lead analyst on various IPO pre-deals such as Ananda Development, iREIT Global and CapitaMalls Asia.

She also has prior experience in private equity, working on M&A deals in Asia Pacific at Newbridge Capital. Ms Song graduated with a Bachelor of Business Studies (Honours) degree from Nanyang Technological University, Singapore.

 

View expert