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Singapore office vacancies climb to a 12-year high

Property

Singapore office vacancies climb to a 12-year high

Bloomberg Published on Mon, Oct 30, 2017 / 7:38 AM GMT+8

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(Oct 30): Singapore office vacancies climbed to the highest in 12 years even as rents rebound, gaining for the first time in 10 quarters.

A gauge of office vacancy rates rose 0.9 percentage point to 13.3% in the third quarter, the highest since September 2005, data from the Urban Redevelopment Authority Friday showed. The office rental index added 2.4%.