Sourcing for a new office space can be a lot of work. As the business scales, entrepreneurs will eventually face the hassle of moving to a new office to accommodate growing needs. If you are in the market for a new office, this guide to office rental rates in Singapore will help make your search much easier.
Office rental rates are based on asking rents from OfficeFinder and Corporate Locations. Office buildings are classified into Grades A, B or C, based on location, facilities and maintenance.
All rental rates are quoted on a monthly basis.
Read Also: 5 Factors To Consider Before Renting An Office Space In Singapore
Raffles Place, New Downtown (District 01)
This precinct forms the core of Singapore’s Central Business District (CBD), with locations encompassing Cecil Street, Raffles Link/Place and Telok Ayer. Most tenants in this district are from finance, insurance and legal industries.
Office rentals in this area can range quite widely, depending on the office grade. On the high end, offices in Marina Bay Financial Centre (MBFC) towers cost about $13.50 psf, while offices in The Arcade cost around $6.00 to $6.50 psf.
| Office Building Grade | Rental Rates (psf per month) |
| A | $8.50 to $16.00 |
| B | $5.80 to $12.00 |
Tanjong Pagar, Chinatown (District 02)
Due to its excellent accessibility, the Tanjong Pagar/Shenton Way district remains popular for workspace. It is well-connected with several MRT stations close by, Raffles Place, Tanjong Pagar, Telok Ayer and Shenton Way, and various bus routes. More tech, media and telco tenants dominate this area, along with flexible workspace operators such as WeWork and JustCo.
Offices in Guoco Tower cost around $13.00, while those at 79 Anson Road are around $8.00 – $8.20.
| Office Building Grade | Rental Rates (psf per month) |
| A | $9.50 to $13.00 |
| B | $5.80 to $9.50 |
Read Also: [2024 Edition] 16 Popular Co-Working Spaces For Your Business In Singapore
Harbourfront, Buona Vista (District 04 and 05)
At the fringe of Singapore’s CBD, Harbourfront remains as an established and sought-after hub while Buona Vista offers a good balance in terms of affordability and accessibility. Quality office buildings such as Harbourfront Towers offers waterfront and skyline views, with rentals costing about $7.35 to $8.30 psf.
Business parks are quickly becoming a magnet for tech giants too, with Grab and Razer building their new headquarters at one-north business park. Currently, Mapletree Business City office rents are around $7.50 psf. Other office spaces in these districts include Keppel Bay Tower, Alexandra Point and Singapore Science Parks.
| Office Building Grade | Rental Rates (psf per month) |
| A – C | $4.85 to $8.30 |
Bugis, Rochor (District 07)
This vicinity is fast becoming a new hotspot for work and play, with plenty of choice for office tenants. Apart from its central location, the offices along Beach Road and Middle Road are also valued for its amenities and entertainment options.
This district has office rental rates that run the price gamut. For instance, Duo Tower and Centennial Tower cost around $12.00 to $13.80 psf, while the OG Albert Complex costs around $5.80psf.
| Office Building Grade | Rental Rates (psf per month) |
| A – B | $6.00 to $12.50 |
Orchard Road, River Valley (District 09)
While Orchard Road may be Singapore’s premier shopping district, it is also a recognised commercial area due to its close proximity to CBD and its broad range of shops and amenities. Other areas in this district include River Valley and Cairnhill.
On the higher end, rates at Ngee Ann City are around $11.00 psf, while rents for office spaces in Great World City can be lower at $7.50 psf.
| Office Building Grade | Rental Rates (psf per month) |
| A – B | $5.20 to $11.00 |
Novena, Newton, Thomson (District 11)
A quieter district at the edge of CBD, it houses a mix of office spaces alongside private housing areas and large reservoirs. As it is located north of the city’s fringe, areas such as Newton and Novena tend to be more affordable. Rental rates in Novena Square cost about $8.00 to $8.80, while Goldhill Plaza costs around $5.80.
| Office Building Grade | Rental Rates (psf per month) |
| A – C | $4.30 to $8.80 |
Read Also: Guide To Buying A Commercial Property For Your Business In Singapore
Paya Lebar, Geylang (District 14)
This district has a larger concentration of industrial estates, particularly attractive for tenants looking for office and industrial space for production or storage.
Yet, new office buildings such as Paya Lebar Quarter are in demand and cost about $9.00 psf, whereas, . Older spaces such as Singapore Post Centre, cost about $6.90 psf.
| Office Building Grade | Rental Rates (psf per month) |
| A – C | $7.50 to $9.00 |
Suburban East – Changi, Tampines, Pasir Ris (District 17 and 18)
As tenants move away from the pricier city centre, suburban regions are becoming increasingly popular. This regional hub has attracted many tenants in banking and finance, with many financial institutions choosing to set up their IT/backend offices here.
In Changi Business Park, office rents cost above $4.20 psf, while in NTUC Income Tampines Point are between $5.50 and $6.00 psf.
| Office Building Grade | Rental Rates (psf per month) |
| A – C | $5.50 to $6.00 |
Suburban West – Jurong, Tuas (District 22)
From a large swampland, this area was developed into Singapore’s largest industrial estate. Offices in Jurong Gateway have a wider range of facilities, for example, Westgate Tower rentals cost up to $7.80 psf. But further-flung industrial buildings like International Business Park – Jurong East are more affordable and cost upwards of $3.90 psf.
| Office Building Grade | Rental Rates (psf per month) |
| A – C | $3.90 to $7.80 |
Read Also: Guide To Jurong Lake District: Singapore’s Second CBD Where You Can Live, Work, And Play
Singapore Rental Market Outlook
Rentals for office space decreased by 1.1% in 2Q2025 compared with the 0.2% decrease in the previous quarter.
The islandwide vacancy rate of office spaces dropped to 11.4% in 2Q2025 from 11.7% in 1Q2025, contributed by the lack of new office supply in Q2 and backfilling of the vacated space in older properties.
Despite this relatively tight office vacancy rate, rents have remained lacklustre. Given the uncertain economic environment due to the ongoing trade tensions, landlords may tend to prioritise maintaining occupancy rate over higher rentals for the interim period.
Read Also: Complete Guide To Commercial Property Loans For Singapore Businesses
Subscribe To The DollarsAndSense Business Pass
Enjoy what you are reading and want more? Join The DollarsAndSense Business Pass and unlock access to valuable tools, exclusive networking opportunities, and tap into the wisdom of industry experts to fuel your business expansion!
