Scent and Real Estate Asset Value

Every scenting decision ends in the value of the asset

A building is valued on its net operating income divided by the market cap rate. Anything that protects rent, occupancy and renewals protects value. This guide explains where scent fits.

Request a site assessment
Marina Bay waterfront with office towers

The value chain, explained

From the arrival experience to capital value.

The cost of tenant churn

What it costs when a tenant leaves, and why experience matters.

Marina Bay waterfront with office towers
The cost of tenant churn

Flight to quality

Why occupiers pay for the best buildings.

The ArtScience Museum and Singapore skyline at dusk
Flight to quality

Asset enhancement initiatives

Specifying scent alongside an AEI.

Buildings on Marina Bay
Scent in AEIs

Green Mark and WELL

Scenting in certified buildings.

Greenery at Gardens by the Bay, Singapore
Green Mark and WELL

The REIT investor view

How scent fits a portfolio’s asset story.

Marina Bay Sands and the Singapore skyline
The REIT investor view

How scent signals value

Why a building’s scent places it in a tier.

Marina Bay Sands, Singapore
How scent signals value

From scent to capital value

How a scenting programme connects to the numbers an owner cares about. And how to measure it.

Experience

Even coverage and fine fragrance create a premium, consistent arrival.

Leasing and retention

A better experience supports viewings, satisfaction and renewals.

NOI and value

Protected income, divided by the cap rate, is capital value.

Value in numbers

Illustrative figures using hypothetical inputs.
Signature scent detail

S$2.86 million

Capital value

“At a 3.5% cap rate, every S$100,000 of annual NOI is worth about S$2.86 million.”
Fine fragrance detail

S$600,000

Downtime

“Six months of vacancy on a 10,000 sq ft tenant paying S$10 psf a month.”
Fragrance bottle detail

A third of a year

Incentives

“JLL notes incentives for a new office tenant can total roughly a third of annual net rent.”
Perfumer evaluating a fragrance

Your numbers

Compare

“Set the cost of one lost tenant against a programme proposal, using your own rent, downtime and incentive assumptions.”
Singapore CBD skyline detail

Differentiation

Rent premiums

“JLL links amenity rent premiums to quality and differentiation.”
Fragrance materials detail

No inflated claims

Our policy

“We never attribute a rent or value uplift to scent without a named client case.”