Singapore Office Supply Report – September 2026: Past, Present & Future Supply

Singapore’s office market is entering an interesting phase.

While overall office vacancy remains relatively high, the availability of high-quality Grade A office space in Singapore’s Core CBD is much tighter. 

At the same time, the pipeline of new office developments is expected to remain relatively limited through 2026 and 2027 before increasing again in 2028.

So, is Singapore actually running out of office space?

Not exactly.

The bigger issue is the availability of quality office space in the locations and buildings that occupiers increasingly prefer.

In this report, we look at how Singapore’s office supply has changed since 2024, the current market situation in 2026, and what businesses should expect from the future office pipeline.

Quick Summary

• Islandwide office vacancy stood at approximately 11.0% in Q2 2026.
• Core CBD Grade A vacancy was significantly lower at just 3.3%.
• The completion of IOI Central Boulevard Towers added approximately 1.24 million sq ft of office space in 2024.
• New office supply slowed significantly in 2025. Only around 0.5 million sq ft of new office supply per year is expected in 2026 and 2027.
• A larger wave of new office supply is expected from 2028, including major developments such as New Comcentre and The Skywaters.
• The key issue is therefore not an overall shortage of offices, but the relatively limited availability of modern, high-quality office space in prime locations.

Singapore Office Supply: 2024 to 2025

Singapore experienced a relatively significant increase in office supply in 2024, driven largely by the completion of IOI Central Boulevard Towers.

The development added approximately 1.24 million sq ft of office space to the market, temporarily increasing Core CBD Grade A vacancy.

However, much of this new space was gradually absorbed by the market.

By Q4 2025, Grade A vacancy had fallen to approximately 4.0% to 4.5%.

New office completions then slowed considerably in 2025, with only around 0.6 million sq ft of major new office space completed during the year.

This slowdown in supply, together with continued occupier demand for newer and higher-quality buildings, helped tighten the Grade A office market.

Singapore Office Market in 2026

The difference between prime Grade A offices and the wider Singapore office market has become increasingly noticeable.

As of Q2 2026, vacancy rates were approximately:

Core CBD Grade A: 3.3%
URA Category 1: 9.3%
URA Category 2: 11.9%
Islandwide: 11.0%

The figures highlight an important distinction in the Singapore office market.

While there is still a considerable amount of office space available overall, vacancy in prime Grade A buildings is much lower than the islandwide average.

In other words, businesses may find plenty of offices available in Singapore, but suitable space within newer, high-quality buildings can be considerably harder to secure.

Why Is Grade A Office Space Tighter?

Tenant demand continues to favour modern office buildings offering a combination of location, efficiency and building quality.

Businesses increasingly consider factors such as:

• Proximity to MRT stations and transport connections
• Modern building specifications
• Efficient and flexible floor plates
• Building amenities and facilities
• Workplace quality and employee experience
• Sustainability and building standards

Availability can become even more limited for companies requiring large contiguous office spaces.

In particular, suitable options above 20,000 sq ft can be relatively limited, especially when businesses have specific requirements regarding location, building quality, layout and lease timing.

This is why the headline islandwide vacancy rate does not necessarily reflect what an individual company will experience when searching for an office.

What Is the Office Supply Outlook for 2026 and 2027?

Singapore’s future office development pipeline has continued to decline.

The total office pipeline fell from approximately 909,000 sq m at the end of 2024 to 848,000 sq m in Q2 2026.

More importantly for businesses currently planning relocations, new supply is expected to remain relatively limited in the immediate future.

Only around 0.5 million sq ft of new office supply per year is expected in both 2026 and 2027.

For occupiers looking specifically for newer Grade A offices, this means that availability may remain tight over the next couple of years.

Limited supply could also continue to support Grade A rents and strengthen the negotiating position of landlords in well-located, high-quality buildings.

What Happens to Singapore Office Supply in 2028?

The supply picture is expected to change more noticeably from 2028.

A larger wave of office completions is anticipated, including major developments such as:

New Comcentre
The Skywaters

These projects should introduce additional modern office stock into the Singapore market and provide occupiers with more options.

However, the completion of new buildings does not necessarily mean that all of the space will be available when the projects open.

Large occupiers often begin their office search several years before their intended move-in date, and some space in major developments may therefore be pre-committed before completion.

Companies considering a large office requirement for 2028 should therefore still begin their planning early rather than waiting until the buildings are completed.

What Does This Mean for Older Office Buildings?

The outlook is different for older and secondary office buildings.

With islandwide vacancy considerably higher than Core CBD Grade A vacancy, older buildings face greater competition for tenants.

To remain attractive, landlords may increasingly need to compete through:

• More competitive rental rates
• Fitted or partially fitted office options
• Flexible commercial terms
• Building refurbishment and upgrades
• Improved amenities and facilities

For tenants, this can also create opportunities.

Companies that do not require the newest Grade A specifications may find better-value office options in older or secondary buildings, particularly where fitted spaces are available.

The right choice ultimately depends on the company’s priorities, including budget, location, image, employee requirements and lease duration.

Office Navi Singapore’s View

The Singapore office market is not facing a shortage of office space overall.

It is facing a shortage of quality office space.

This distinction is important.

An islandwide vacancy rate of approximately 11% may initially suggest that tenants have plenty of choice.

However, the situation looks very different when the search is narrowed to modern Grade A buildings in prime locations, where vacancy is significantly lower.

With relatively limited new supply expected through 2026 and 2027, we expect good-quality Grade A buildings to remain competitive and landlords of well-performing assets to retain relatively strong bargaining positions.

Older and secondary buildings, meanwhile, are likely to face greater competition and may need to differentiate themselves through pricing, fitted space, flexibility and building improvements.

From 2028, the arrival of several major developments should provide businesses with additional options, although some of this future space may be committed well before completion.

For companies planning an office relocation over the next few years, starting the search early will provide more time to understand the market, compare available buildings and negotiate suitable lease terms.

Planning Your Next Office Move in Singapore?

Whether you are planning to renew your current lease, relocate to a new building, expand your office, or move from a serviced office to a conventional office, understanding future office supply can help you plan ahead.

Office Navi Singapore supports businesses throughout the office search process, including:

• Office market insights and rental benchmarks
• Tailored office recommendations
• Serviced and conventional office searches
• Office viewing arrangements
• Commercial term and lease negotiation support
• Expansion, consolidation and relocation planning
• Support in English, Japanese and Chinese

Rather than reviewing hundreds of office options on your own, our team can help you identify suitable properties based on your location, budget, size, timeline and future business plans.

Our office search and advisory service is provided at no cost to tenants.

📞Call Us:+65 6462 6338
📧Email Us:info@office-navi.com.sg
💬WhatsApp Us: +65 8518 2245

If you’re exploring office space in Singapore, feel free to contact us for a complimentary consultation and customised office proposal.

From your first office to your next stage of growth, we’re here to support your office journey—every step of the way.

Disclaimer

This article is intended for general information only. Office supply, vacancy rates, development timelines, rental conditions and availability may change depending on market conditions and individual developments.

Businesses should review the latest market information and specific property availability before making an office leasing decision.