Singapore office rents may overtake Hong Kong

Tourists in front of Singapore's econic Merlion with the business district in the backround, (Filepic)

SINGAPORE: Singapore office rents may overtake those of Hong Kong for the first time since 2009, a sign that the South-East Asian city-state is gaining an edge over its rival financial hub.

Average office spot rents in Singapore could rise 5% to 10% in 2022 on the back of a limited new supply, according to a Bloomberg Intelligence report.