Singapore 10th most expensive city for tech startups

Start-up costs amount to $53,130 per annum.

Knight Frank's 2017 Global Cities Report examines the cost of leasing and fitting-out 600 sqft of office space in the tech and creative districts of the world’s leading cities.

Of the 20 cities listed in the report, space in One North, Singapore ranked 10th most expensive with start-up costs amounting to US$39,088 (S$53,130) per annum.

Intense demand for space in Shoreditch, London, meanwhile has seen start-up office costs soar with 600 sq ft of office space to cost US$66,706 per year - the highest of any creative district in the world. This is followed by Brooklyn in New York (US$62,736), Mid-Market in San Francisco (US$61,680), 1st, 2nd and 9th Districts in Paris (US$57,426) and the Seaport District in Boston (US$50,700).

Analysis also reveals that co-working spaces offer great cost saving for tech businesses. The cost of occupying four desks in a co-working space in Singapore is US$23,105 per annum, a saving of US$15,983, or 31%, versus traditional office space.