Metro Office Space Vacancy Rate Rising

Vacancy rate in the office space market is on the rise as supply hits its peak of 870,000 square meters by next year, but this is no cause for worry of possible property bubble as excess supply can be met in 2017-2018, a property management consultancy services firm said.

Chris Fossick, Managing Director of Jones Lang LaSalle (JLL) Singapore and South East Asia, said during its regular property market update that vacancy rate could rise to 6 percent next year from the 4 percent rate in the past two years.

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Source: Manila Bulletin

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