Demand for flexible workspace rises 37% YoY in 2022

The rising demand pushed average rates up by 4%.

Average rates for flexible workstations in Singapore have increased by 4% YoY in 2022, thanks to the rising demand for such.

According to global workspace innovation firm, The Instant Group, the average rate for a desk in 2022 was 537 USD per month.

In 2022, demand for flexible workspace increased by 37% YoY, whilst supply only rose by 2% YoY.

Meanwhile, serviced offices saw a 3% increase, followed by hybrid at 2%. The supply of co-working spaces did not increase in 2022.

“Singapore’s COVID restrictions eased in April 2022, allowing the workforce to return to the office. However, with traditional leases expiring, many corporates saw the opportunity and need to adapt their real estate strategies, often downsizing in favour of more dynamic and flexible workspace arrangements," said Ana Olivares, Director at The Instant Group, Asia Pacific.

"The bulk of new flex supply was released to the market in Q1 2022 and with increased demand, operators seized the opportunity to increase rates, particularly for newly launched locations such as WeWork @ 21 Collyer Quay and The Work Project @ CapitaSpring,” added Olivares.

Also Read

Singapore, APAC commercial real estate investments up in Q1

Anti-money laundering bust affects shophouse sales

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit