‘The latest dip in commercial office prices was further exacerbated by the decline of Holland Drive Condo rates.’
URA’s quarterly report on Jan 25 showed that Singapore’s office property market ended 2023 on a subdued note. Commercial office prices for 4Q2023 dropped 5.9% q-o-q, reversing the 0.8% q-o-q uptick in 3Q2023. 2023 closed with a net decrease of 4.2% in office prices. “JLL had started to observe weakening occupier demand as early as […]