Office sector
Price growth of office space in the fringe areas have recently overtaken that in the central areas, likely due to COVID-19 causing a permanent shift in office demand.
More people are able to work remotely and a central office location is not required, hence space demand for city centre offices may have been relatively weaker than that in the fringe areas.
Reflecting the trends in prices for office space, rents for fringe area locations have also been growing faster than city centre locations.
Median office rents per sq foot by location, building class, and area in 3Q2025
| Location | Building Class | Area (SQM) | Median ($ PSF) |
|---|---|---|---|
| Central Area | Category 1 | 100 & Below | 10.5 |
| Central Area | Category 1 | >100 – 200 | 11.4 |
| Central Area | Category 1 | >200 – 500 | 12.0 |
| Central Area | Category 1 | >500 – 1000 | 11.5 |
| Central Area | Category 1 | >1000 | 11.9 |
| Central Area | Category 2 | 100 & Below | 6.3 |
| Central Area | Category 2 | >100 – 200 | 7.5 |
| Central Area | Category 2 | >200 – 500 | 8.2 |
| Central Area | Category 2 | >500 – 1000 | 7.9 |
| Central Area | Category 2 | >1000 | 7.6 |
| Fringe Area | Category 2 | 100 & Below | 5.9 |
| Fringe Area | Category 2 | >100 – 200 | 5.8 |
| Fringe Area | Category 2 | >200 – 500 | 7.4 |
| Fringe Area | Category 2 | >500 – 1000 | 6.6 |
| Fringe Area | Category 2 | >1000 | 6.9 |
| Outside Central Region | Category 2 | 100 & Below | 5.3 |
| Outside Central Region | Category 2 | >100 – 200 | 5.5 |
| Outside Central Region | Category 2 | >200 – 500 | 5.7 |
| Outside Central Region | Category 2 | >500 – 1000 | 5.6 |
| Outside Central Region | Category 2 | >1000 | 8.8 |
| Overall | – | – | 6.8 |
Category 1 refers to office space in buildings located in core business areas in Downtown Core and Orchard Planning Area which are relatively modern or recently refurbished, command relatively high rentals and have large floor plate size and gross floor area. Category 2 refers to the remaining office space in Singapore which are not included in “Category 1”.
Retail sector
The retail sector is still undergoing changes with the rise and maturation of the e-commerce sector.
Since 2017, fringer area retail space prices have generally held up while central area retail space prices have been on a slight downtrend.
Because of COVID-19, fringe area retail space prices surged substantially as people were locked down within their neighbourhoods.
The surge in prices of fringe area retail space between 2022 and 2024 was about 15%, the largest increase since 2011. However, there has been some price moderation since then.
Due to it’s mix of essential and non-discretionary retail services and offerings, compared to discretionary and more luxury offerings in central area retail, the overall performance for retail space in fringe areas remains healthy.
Note that the median is an aggregation based on further detailed information, such as rents by floor level and area.
Shop space sector
