The tables have turned when it comes to Singapore’s downtown office rents. Tenants will now be getting the upper hand at rental negotiations as leasing rates posted their first quarterly drop since 2012, according to DTZ Holdings Plc. With both demand and the city-state’s economy slowing, the pace of decline is set to accelerate. Rents may fall as much as 7 percent this year and a further 8 percent in 2016, said Nai Jia Lee, regional head of research for Southeast Asia at DTZ. Average monthly gross...
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