General

Procuring or Renting a Commercial Space in Singapore?

Singapore is growing with many opportunities to find the right office space to rent, which can make a huge difference in your business. As part of the Singapore, nearly 6 million people call the area home, with more commuting every day. Due to its central location in Singapore, the low cost of living and the fact that there is no government income tax in the busy Singapore airport, companies often find that renting office space in Singapore is a great deal. Singapore has financial reasons.

The county rental rates for the Singapore offices were also marginally higher (0.3% higher) at $ 15.54 / SF.These increases were also related to office property sales prices, reflecting the increase in nature. same For comparison, in early 2018 the average preferred rent was about $ 16.60 / six, so while the rent was down significantly. (Homeowners may say a significant decline)

Overall, Singapore County has approximately 240,000,000 square feet of office space leased and currently has an estimated vacancy rate of 20 percent. The net absorption figure for Singapore office rentals has been popular over the past year, largely due to Some of the giants in the industry have either relocated or consolidated their operations from their Singapore-area vacancies. So while these job vacancies are numerous, 2020 has significantly improved compared to 2019.

Singapore remains the primary market for corporate and regional relocation for a number of reasons previously mentioned. In fact, office space for sale Singapore is home to more Fortune 500 companies than any other city in the country, with 24 companies based in Singapore. Some of these companies are American Airlines ( AMR), ExxonMobil, Fluor and AT&T.As such, the demand for office space in Singapore is relatively stable compared to other major markets nationwide.

Singapore office leases generally rarely see larger rents when the economy is booming, so a big drop is avoided when the country’s economy is weak. In general, Singapore remains an attractive market for many companies looking to expand at the present time or in the near future, and Singapore is one of the major cities that are attracting attention.