Prices of office space decreased by 0.7% in 4Q2025, compared with the 0.2% decrease in the previous quarter.
Meanwhile, rentals of office space increased by 0.4% in 4Q2025, compared with the 0.1% decrease in the previous quarter.
For the whole of 2025, prices of office space decreased by 2.1%, compared with the increase of 1.8% in 2024, while rentals of office space increased by 0.3%, after remaining unchanged in 2024, according to 4Q2025 real estate statistics released by the Urban Redevelopment Authority (URA) on Jan 23.
As at the end of 4Q2025, there was a total supply of about 867,000 sqm gross floor area (GFA) of office space in the pipeline, compared with the 870,000 sqm GFA of office space in the pipeline in the previous quarter.
The amount of occupied office space remained unchanged in 4Q2025, compared with the increase of 1,000 sqm in the previous quarter.
The stock of office space decreased by 7,000 sqm in 4Q2025, compared with the decrease of 24,000 sqm in the previous quarter.
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As a result, the islandwide vacancy rate of office space decreased to 11.1% as at the end of 4Q2025, from 11.2% as at the end of the previous quarter.
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Retail rents rise at quicker pace as occupancy rises
Meanwhile, prices of retail space increased by 1.7% in 4Q2025, compared with the 0.7% decrease in the previous quarter.
Rentals of retail space increased by 0.6% in 4Q2025, compared with the 0.9% increase in the previous quarter.
For the whole of 2025, prices of retail space increased by 3.0%, compared with the increase of 1.0% in 2024, while rentals of retail space increased by 1.9%, compared with the increase of 0.5% in 2024.
As at the end of 4Q2025, there was a total supply of about 560,000 sqm GFA of retail space in the pipeline, compared with the 530,000 sqm GFA of retail space in the pipeline in the previous quarter.
The amount of occupied retail space increased by 34,000 sqm in 4Q2025, compared with the increase of 22,000 sqm in the previous quarter.
The stock of retail space decreased by 4,000 sqm in 4Q2025, compared with the increase of 6,000 sqm in the previous quarter.
As a result, the islandwide vacancy rate of retail space decreased to 6.3% as at the end of 4Q2025, from 6.9% as at the end of the previous quarter.
Tables: URA
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