Bringing Office Shadow Space To Light

Despite an economic slowdown, Singapore office market rents have continued to trend higher amidst tight vacancy rates of about 4.4%.

However, as companies seek cost discipline given heightened interest rates and new ways of working that has lowered utilisation of office space, shadow space levels have begun to creep up.

Shadow spaces are not reflected in vacancy rates as they are still under lease and not considered vacant. With office shadow stock on the rise, we investigate if this would lead to a rental correction in the market in this paper. 

With office shadow stock on the rise, our latest paper investigates if this would lead to a rental correction in the market. Download the report now to learn more.