CBD office vacancy keeps climbing — June observations
Some observations from the commercial segment this month:
1. Overall Grade A vacancy around 14%, highest since 2003
2. WFH trend appears permanent for many MNCs — several large-floor tenants downsizing
3. Landlords increasingly offering rent-free periods (3-6 months) to attract tenants
4. Bright spot: flex/co-working space absorption has picked up in non-core districts
The gap between core and non-core is widening. Positioning matters more than ever.
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