Business times reported that Singapore Office rents for Grade A/Prime space in Singapore fell a steep 14 per cent in Q408 on a year-on-year (yoy) basis, the sharpest fall in Asia.
Tokyo also fell a huge 13.4% compared to the previous Q4 of last year.
In my hindsight, the worst is still coming. Rental of office space last year was extremely strong, along with the housing market, Singapore and most cities in Asia look to continued growth. I spent countless hours listening to local business owners say that " Not Singapore, We are a different market. We have an internal machine that will help us bypass an decline."
This goes to show that event he most confident and brightest of Singapore had no clue this was coming. During a Lunch meeting last year with a Keppel Land manager, He gave no indication that there would be any slow down in his sector.
Though I see small report of positive gains, I still wonder, as does the rest of the world, "Is this just false blip on the heart machine of the economy?"
The information and picture was from the Business Times in Singapore.
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