Office Numbers · 2026-09-29
$12.32. That is the average monthly rent per square foot for CBD Grade A office space in the third quarter of 2026, according to EdgeProp Singapore, which cites JLL and Knight Frank. It represents a 1% rise over the second quarter and 2.8% since the start of the year.
Zoom into Raffles Place and Marina Bay and the figure reads $11.87 psf per month, up 1.5% on the quarter. Occupancy in that sub-market is 97.4%, which leaves very little slack. Across the wider CBD, vacancy is 5.9%, the lowest for ten consecutive quarters.
Behind the digits is a simple story. AI and technology firms are taking more room, and the pipeline of new space is thin, with supply described as constrained through 2027. Forecasts follow from that: JLL projects about 4% full-year rental growth, and Knight Frank a range of 3% to 5%, with the higher end judged more probable.
So what does a core-district statistic mean for a building outside the core? Consider ARC 380, a freehold 16-storey mixed-use strata development from Tong Eng Group in District 12, at the Jalan Besar and Lavender Street fringe. Its offices range from about 700 to 9,500 sqft, with retail and F&B on level one, and Bendemeer MRT is a five-minute walk. The building received its TOP in 2018, so it is a completed, established address, and the project details page lists the specifics.
The CBD figures do not describe ARC 380 directly, and nothing here implies a particular price or rent for it. What they do show is the environment in which occupiers are choosing: when core availability shrinks, companies sometimes compare well-connected fringe options with more interest than before. Whether that happens is up to each business and its needs.
The four numbers to remember are 5.9% for vacancy, 97.4% for occupancy in Raffles Place and Marina Bay, 2.8% for year-to-date rent growth, and 2027 for the supply horizon. Watch how each moves in the fourth quarter before drawing firm conclusions.
A quick word on how to use figures like these. Percentages of a single quarter can mislead if read alone, which is why the year-to-date gain and the forecasts matter. The gap between the 1% quarterly move and the 2.8% year-to-date change tells you growth has been gradual. The 4% and 3% to 5% forecasts are opinions from two advisers, and reasonable people may differ on them.
For a buyer of strata space, the sensible checklist stays the same in any market: unit size against headcount, distance to the MRT, tenure, maintenance charges and what neighbours in the building do. The CBD data simply adds context, and it should not be the only input.
General information only, not financial or legal advice.
If you would like to compare floor sizes at ARC 380 against your own headcount, get in touch with our team for the current unit list.
Source: EdgeProp Singapore. This article is independent commentary; ARC 380 is not affiliated with the parties mentioned.