Raffles Place is a trophy-tier Class A submarket of Singapore with average asking rent around S$13.2/sqft/mo · ≈ $117 PSF/yr USD.
The historic financial core. · Tier: trophy · Avg rent: S$13.2/sqft/mo · ≈ $117 PSF/yr USD
Raffles Place is the historic CBD core. Trophy redevelopments — CapitaSpring, OUE Bayfront, 8 Shenton — sit alongside seasoned 1990s-2000s towers. The submarket trades effectively as one with Marina Bay.
Banking, professional services, fund managers, regional HQs.
20-40,000 sqft floor plates.
Raffles Place MRT (NS/EW).
Most central CBD address; equidistant to all MRT lines via interchanges.
Lau Pa Sat, Boat Quay, Telok Ayer dining cluster.
Raffles Place is one of 6 Class A submarkets we cover in Singapore, classified as trophy tier with an average asking rent around S$13.2/sqft/mo · ≈ $117 PSF/yr USD. Compared with the broader Singapore Class A stock, Raffles Place typically attracts Banking, professional services, fund managers, regional HQs and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Raffles Place: Marina Bay, Shenton Way & Tanjong Pagar, Orchard, One-North. The full Singapore submarket atlas is at /cities/singapore.
For an institutional Class A occupier evaluating Raffles Place, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Singapore Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.