2024 Singapore Flexible Office Market Report
Last Update: 25 April, 2025•Read: 15 minutes
2024 Singapore Flexible Office Market Report
Executive Summary
The Singapore flexible office market in 2024 demonstrated a phase of sustained yet moderated growth, marking a normalisation after the rapid expansion experienced in the previous years leading up to the COVID-19 pandemic.
The total volume of flexible workspace in Singapore remained significant, contributing a notable share of the overall Asia Pacific market. While demand remained moderate, prime areas continued to attract businesses seeking adaptable solutions.
Average desk prices showed variability across different workspace types and locations, with an upward trend observed in certain prime districts.
The supply of flexible offices increased by 14.3% annually, with serviced and coworking spaces dominating the market. Inquiry trends indicated a preference for small to medium-sized teams, relatively short-term commitments, and specific features such as high-speed internet and meeting rooms.
The future of the flexible office market is expected to undergo technological advancements, including the adoption of hybrid work models and a stable economic outlook in Singapore. However, potential supply constraints in core areas may influence rental growth.
The Singapore flexible office market in 2024 demonstrated a phase of sustained yet moderated growth, marking a normalisation after the rapid expansion experienced in the previous years leading up to the COVID-19 pandemic.
The total volume of flexible workspace in Singapore remained significant, contributing a notable share of the overall Asia Pacific market. While demand remained moderate, prime areas continued to attract businesses seeking adaptable solutions.
Average desk prices showed variability across different workspace types and locations, with an upward trend observed in certain prime districts.
The supply of flexible offices increased by 14.3% annually, with serviced and coworking spaces dominating the market. Inquiry trends indicated a preference for small to medium-sized teams, relatively short-term commitments, and specific features such as high-speed internet and meeting rooms.
The future of the flexible office market is expected to undergo technological advancements, including the adoption of hybrid work models and a stable economic outlook in Singapore. However, potential supply constraints in core areas may influence rental growth.
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