Singapore’s office market is facing headwinds. Despite a 14.9% surge in Grade A office rents since early 2021, recent data shows a dip in activity, with office rental indices registering declines and vacancies rising to 7.8% due to new supply additions like IOI Central Boulevard Towers. Coupled with limited demand from tech sectors and the rise of flexible working arrangements, the market has plateaued, relying on smaller-scale demand from private wealth and professional services firms. How will the current conditions augur for Singapore’s office market in 2025? What will growth look like?

Alan Cheong, Executive Director of Research & Consultancy at Savills shares his insights on Singapore’s office market outlook for 2025.