Freehold Strata Office Spaces in CBD See Surge in Interest for Q4 2023
In the final quarter of 2023, the freehold strata office space market in Singapore’s CBD witnessed a 10.8% increase in transactions compared to the previous quarter. This rise in interest is largely due to the exemption of these properties from the Additional Buyer’s Stamp Duty, highlighting the attractiveness of freehold strata office spaces among investors. The rapid sell-out of Solitaire on Cecil exemplified the trend, signalling strong demand for such properties. Despite economic uncertainties, the office space market maintained resilience, with modest growth in occupancy rates and a cautious outlook on future rent increases due to a significant upcoming supply of office spaces.
For further details on the rising interest in freehold strata office spaces in Singapore’s CBD and the factors driving this trend, please refer to the original article in Singapore Business Review.
