CBRE says Grade A office rents in Singapore's core central business district rose 2.0% in the third quarter of 2026, the strongest quarterly gain since Q3 2022, as vacancy fell to 2.6%.

Core CBD Grade A office rents in Singapore reached S$12.75 per square foot per month (psf) in Q3 2026, up 2.0% from the previous quarter, according to CBRE's Singapore Figures report published on 12 October 2026. CBRE, the commercial property services firm, says vacancy in that segment fell from 3.3% in Q2 to 2.6%, driven by healthy net absorption, meaning more space was taken up than was handed back.

TL;DR

  • CBRE reports Core CBD Grade A rents of S$12.75 psf a month in Q3 2026, up 2.0% on the quarter, with vacancy at 2.6%.
  • Other agencies show smaller gains on different definitions: JLL 1.0% and Knight Frank 1.5%, per EdgeProp.
  • Agencies cite AI and tech demand and tight supply, but forecasts are the firms' own and not guaranteed.

How much did Singapore office rents rise in Q3 2026?

Three agencies reported gains, each measuring a slightly different slice of the market. CBRE's Core CBD Grade A figure is S$12.75 psf a month, up 2.0%. EdgeProp, citing JLL, reports CBD Grade A rents up 1.0% to S$12.32 psf a month, with overall CBD vacancy at 5.9%, the lowest in 10 quarters. EdgeProp, citing Knight Frank, reports Raffles Place and Marina Bay prime rents up 1.5% to S$11.87 psf a month, with occupancy up 0.7 percentage points to 97.4%.

Why are Singapore office rents rising?

EdgeProp's report points to three drivers. First, demand from AI and technology firms: CBRE says AI is emerging as a key leasing driver alongside financial services, and the report names Databricks, which plans a 32,000 sq ft regional headquarters at IOI Central Boulevard Towers, and says OpenAI is reportedly in advanced talks for about 120,000 sq ft at Shaw Tower, per JLL. Second, limited supply: the last major completion was IOI Central Boulevard Towers at 1.26 million sq ft, and Newport Tower is the only notable 2027 completion. Third, early renewals, with some occupiers opening talks up to two years ahead. CBRE's Tricia Song said occupiers face a rapidly diminishing pool of options.

What do the agencies forecast for the rest of 2026?

As reported by EdgeProp, JLL expects full-year 2026 CBD Grade A rental growth of 4% and cumulative growth of 15% over 2025 to 2030. CBRE expects Core CBD Grade A growth above 5% in 2026, which would be the strongest annual gain since 8.3% in 2022. Knight Frank expects prime rental growth at the upper end of a 3% to 5% range. These are forecasts by firms that advise landlords and occupiers, and they can change.

Why does it matter for property buyers and investors?

Office rents set the income side of commercial property, and a tight market affects occupiers deciding whether to renew early, relocate or move to Orchard, which EdgeProp says some large occupiers are considering. For Singapore's wider property picture, see our coverage of the URA Q3 2026 private home price release and the Colliers Asia Pacific office leasing review. This article is not property or investment advice.

What is not confirmed?

CBRE's report page gave no year-on-year change or supply pipeline figures. The EdgeProp article is dated 28 September 2026, before CBRE's 12 October release, so JLL and Knight Frank figures may be early readings. The OpenAI talks are reported, not confirmed.

Frequently Asked Questions

What is the average Grade A office rent in Singapore's core CBD?

CBRE puts Core CBD Grade A rent at S$12.75 psf a month in Q3 2026. JLL's wider CBD Grade A figure is S$12.32 and Knight Frank's Raffles Place and Marina Bay prime figure is S$11.87.

Why do CBRE, JLL and Knight Frank report different numbers?

Each firm defines its market area and building set differently, so levels and growth rates differ. The sources do not publish a reconciliation.

When will new Singapore office supply ease the squeeze?

EdgeProp reports scarcity is expected to persist until new supply arrives in 2028, with Newport Tower the only notable 2027 completion.

Sources and Method

Original rewrite based on CBRE, Singapore Figures Q3 2026 (12 October 2026) and EdgeProp Singapore (Atiqah Mokhtar, 28 September 2026), which cites JLL, Knight Frank and CBRE. Rent levels use each firm's own definitions.