A lack of office space could drive up rents at a faster pace in Singapore than anywhere else in the world this year, according to a report from property consultancy JLL, the Straits Times reported.
JLL analysts told the Straits Times that skyrocketing rents here could in turn entice foreign funds, particularly those from the United States, to invest in the sector.
Prime office rents in the Central Business District could climb by as much as 15 percent to 16 percent this year from last year, said JLL’s head of research for Singapore and Southeast Asia, Dr Chua Yang Liang.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Anshuman Daga; Editing by Anand Basu)