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First quarterly drop in office rental index since 2017

Jun 09, 2019 - The Straits Times (Singapore)

The office rental index compiled by the Urban Redevelopment Authority (URA) declined by 0.6 per cent in the first quarter of this year after rising for six consecutive quarters, the first quarterly drop since the second quarter of 2017.

This was mainly driven by the fall in the rental index in the fringe area, which showed a 1.2 per cent decline over the preceding quarter.

The rental index also weakened in the central area, a 0.4 per cent decline over the preceding quarter, recordi...