For retail, CBRE points to still positive leasing momentum in 3Q2025. Although the media reported closures, CBRE says demand was positive. In 3Q2025, retail rents rose by 0.5% q-o-q. Prime retail rents have risen by 1.8% year-to-date. CBRE is expecting prime retail rents to rise by 2.3% this year.
The Singapore core CBD grade A office market rose by 0.8% q-o-q to $12.20 psf per month in 3Q2025. This is the fifth consecutive quarter of rent growth, underpinned by resilient occupier demand and tightening supply. Core CBD office rents are up 2.1% year-to-date. CBRE expects rental growth of 3% for the full year.
CBRE points to “robust leasing activity” in the Marina Bay and Raffles Place CBD, and also in sub-markets such as Marina Centre, Beach Road and City Hall. Vacancy rates in the Marina Centre, Beach Road and City Hall area fell to 5% in 3Q2025. CBRE says with many transactions are expected to close in 4Q2025, vacany rates could dip below 5%.
