Savills: Creative/IT office rents per person in Singapore are 38% of financial services rents in June 2015.

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In its recently published report ’12 Cities: Occupying and investing in world city real estate’, Savills note that, globally, the total annual rent for office space per person paid by a hedge fund is USD22,399. By contrast, the equivalent for a small digital scale-up or creative company is just USD10,453. In Singapore, the corresponding figures are USD18,746 and USD7,049. In June 2015, rents for digital/creative office space were 38% of rents for hedge fund office space. In December 2008, by contrast, digital/creative office space rents were 29% of hedge fund office space rents. Overall rents for both kinds of office space in Singapore fell by 22% from December 2008 to June 2015. Globally, the increase was 1.7% - including a 1.8% fall for hedge fund office rents and an 8.6% rise for digital/creative office rents.

Source : October 2015/Savills/Singapore/OFF

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