SINGAPORE (Sept 5): Knight Frank Singapore says it sees the emergence of a two-tier office market in Singapore, given how the city state has seen a growing rental divergence between its top-grade and older office buildings as of late.

In Knight Frank’s 2Q17 Research Bulletin for the office sector, Calvin Yeo, executive director & head, office advisory, notes that Grade A+ office rents in the Raffles Place/Marina Bay precinct rose for the first time in nine quarters over 2Q by 0.2% q-o-q to an average of S$9.34 psf pm, on the back of a sustained “flight-to-quality” movement.

Occupancy in these existing Grade A+ buildings rose by 0.3 percentage points from 97% in 1Q to represent... (Click here to read the full story.)