Flex spaces to increase foothold in Singapore’s office market

As of Q123, flex spaces already consist of about 10% of the total office stock in the Lion City.

With many Singapore occupiers attracted to flexibility, agility, and cost-effectiveness, flex space is set to continue its growth in the Lion City.

Based on Colliers’ “Global Occupier Outlook 2023,” flex spaces consisted of about 10% of total office stock in Q123, an increase from the 8% record in 2019.

The adoption of flex space has also been quicker in Singapore compared to other markets in the Asia-Pacific (APAC) region (2%-4%).

“Flex space in Singapore is set to continue its growth, especially in times of uncertainty, with occupiers and firms looking to take advantage of its convenience, versatility and scalability; these spaces can offer plug-and-play solutions, as well as quick options for headcount growth,” Bastiaan van Beijsterveldt, Managing Director, Singapore, said.