Singapore is third most expensive flex office location globally
SINGAPORE (EDGEPROP) – “The flexible market is now dominated by excellent quality spaces since occupiers are focused on cultivating an upgraded office strategy around a room employees want to be in, and in a setting that boosts their wanted society,” he adds.
Companies are also looking for areas near train terminals to make it more convenient for their staff members as well as to reduce commuting time, according to Foley.
In fourth area is London with US$ 803 ($1,093) per desk each month, followed closely by Berlin at US$ 800.
Hong Kong, sometime the world’s most expensive workplace market, dropped to 7th place at US$ 793 ($1,079). According to Savills, in January, office supply in Hong Kong had actually outstripped demand, leading to a decline in rental fees and also a rise in giving ins to draw in tenants.
Supply in Singapore remains reasonably limited as vacant seats are being grabbed quickly, notes Swan. “Delays in building and construction mean that this pattern is likely to continue for the direct future,” he includes.
The numbers reflect that occupants are moving in the direction of the best flexible rooms, claims Griffin Foley, northeast lead, Workthere Americas.
This is the most pricey after New york city at US$ 961 ($1,308) and also San Francisco at US$ 950 ($1,293), according to a ranking of regular monthly exclusive office desk cost by Workthere, a versatile office broker agent service provider under Savills.
“We have actually seen a strong recuperation in average prices the last few months as more people start to return to the workplace and due to Singapore’s boosting popularity among startups,” says Ashley Swan, executive supervisor of industrial leasing at Savills Singapore.
At an average of US$ 834 ($1,135) each month, Singapore’s adaptable office desk room is the third most costly all over the world.