District 01
Raffles Place
The historic core of Asian finance
Overview
Precinct overview
Raffles Place has been Singapore's commercial heart since 1822 and remains the deepest, most liquid office submarket in the country. Ongoing CBD Incentive Scheme redevelopment is converting ageing 1980s stock into mixed-use towers, tightening supply and lifting rents across the precinct.
Investment advantages
- Deepest tenant pool and strongest office liquidity in Singapore
- CBD Incentive Scheme unlocking residential conversion upside
- Two intersecting MRT lines with 250,000 daily commuters
- Institutional-grade assets with proven exit demand
Market performance
Current indicators
- Grade A office rent
- S$11.60 psf/mo
- Office occupancy
- 95.1%
- Strata office price
- S$3,450 psf
- Gross yield (office)
- 3.9 – 4.4%
Grade A office rent: +2.9% year-on-year
Office occupancy: Stable
Strata office price: +4.4% year-on-year
Gross yield (office): Strata Grade A
Rental demand
Compact city apartments let quickly to banking associates and consultants, with one-bedroom units achieving S$5,200–S$6,800 per month.
Office demand
Law firms, private banks and trading houses anchor demand. Sub-3,000 sq ft strata suites are the scarcest product type in the CBD.
Residential demand
Residential stock is minimal, making CBD Incentive Scheme conversions among the most sought-after launches in Singapore.
Connectivity
Infrastructure & transportation
Infrastructure
- Raffles Place MRT interchange
- Underground link to One Raffles Place and OUE Downtown
- Singapore River pedestrian promenade
- Central Expressway access
MRT connections
- Raffles Place (NS/EW)
- Telok Ayer (DT)
- Clarke Quay (NE)
Business districts
- Raffles Place
- Battery Road
- Cecil Street
- Robinson Road
Current developments
- Elevate Raffles Exchange
- Elevate Cecil Grand
Featured projects
