An Expert Guide to Co-Working Spaces in Singapore
According to a study conducted in 2023, the demand for co-working spaces in Singapore has increased by 25% from 2021 to 2022. The growing popularity of coworking spaces is primarily rooted in the return of office-based setups, the shift towards hybrid arrangements, and the booming economy of Singapore.
In this blog, we will discuss the popularity of coworking spaces, Singapore's popular business hubs, and factors and recommendations to consider when renting a coworking space in Singapore. So, let’s get started.
What is a Coworking Space in Singapore?
Coworking space is a modern and flexible office solution mainly designed to promote open organizational communication. This setup enables employees to easily connect and collaborate with each other, helping them to produce fresher and better results. Additionally, this workspace solution typically comes fully furnished and equipped, eliminating the need for expensive upfront and capital expenses.
Why Start or Grow a Business in Singapore?
Undeniably, Singapore is one of the wealthiest and top-performing economies in the world. In 2022, it recorded a Gross Domestic Product (GDP) per capita of USD 82,794 in 2022, which is the highest in Asia. These figures provide a beacon of hope for businesses wanting to start or grow a business in Singapore.
Below are more reasons that make Singapore an ideal place to start a business:
1. Steady Economic Growth: Over the past years, Singapore has maintained a good economic performance. This consistent economic growth helps Singapore to continuously attract local and international investors. Therefore, opting for co-working spaces in Singapore places your business in a flourishing market.
2. Business-Friendly Environment: Singapore is known for being Asia's financial, shipping, and trade capital. But apart from that, it is also known for its pro-business economic and trade policy.
3. Great Transport: Singapore boasts one of the most impressive transport systems in the world. This helps businesses easily connect and trade with major business hubs, including China, Australia, and the United States. Additionally, its Port of Singapore has more than 600 links to 120 countries, while its famous Changi Airport has direct connections to over 300 countries in over 80 countries.
4. Friendly Tax Policy: Businesses in Singapore get tax benefits of 0% for the first S$100,000 of income for the first three years. There's no tax on dividends or capital gains either. Singapore also has double tax avoidance agreements with over 50 countries.
5. Globally Competitive Workforce: Singapore also has one of the best education systems in the world, producing the best global talents. Hence, when you consider co-working spaces in Singapore, your business will easily build a highly skilled and talented workforce.
Singapore boasts an ideal environment for starting a business. But where should we establish a business in this vibrant country? Let’s examine the five key business hubs in Singapore.
5 Key Business Hubs in Singapore
Office location is crucial when looking for a coworking space in Singapore. So, to help you make an informed decision, we have listed below the five most competitive locations in Singapore where you can start your business.
1. Central Business District (CBD): This area includes Raffles Place, Collyer Quay, Clifford Pier, Cecil Street, and Shenton Way. It is ideal for businesses seeking to join a premium and elite group of companies in Singapore.
2. Marina Bay: Like the CBD, Marina Bay also boasts an active and dynamic community of like-minded professionals. It is also an ideal spot for post-work pleasures, with Marina Bay Sands, Singapore Flyer, and Gardens by the Bay just around the corner.
3. Tanjong Pagara: If you’re looking for cheaper co-working spaces in Singapore, Tanjong Pagara is a perfect place. Besides its lower rental rates, Tanjong Pagara is also a nice place for shipping, trading, insurance, and professional services companies.
4. Orchard Road: This place perfectly fits those businesses in the retail and entertainment sectors. It also offers various tourist spots, enabling you to attract new customers or clients for your business.
5. Suntec City: Sitting next to City Hall and Bugis, Suntec City is a perfect place to strike a balance between work and life. It is best suited for marketing, media, and IT companies.
Do you want to secure a coworking space in one of these areas? Our dedicated team of flexperts are here for a seamless workspace hunt. Keep reading to discover a range of flex offices for rent in Singapore!
5 Factors to Consider When Renting a Coworking Office in Singapore
When searching for their workspace, many people ask, “Why & how do I choose a coworking space in Singapore?” There are factors that we need to keep in mind during the coworking space hunt. These factors include the location, rental plans, flexibility, amenities, and networking opportunities.
Let’s briefly discuss these factors below.
1.Location
Choosing an office in an active business district can help establish your company's reliability, credibility, and professionalism. Additionally, the location can significantly impact operating costs, so it's important to choose one that fits your budget. More importantly, select a location in an accessible area that will surely be convenient for your employees and clients.
2. Rental Plans
A good flexible coworking office should have flexible rental plans or lease agreements. It should be available for rent for short periods of time, such as daily, weekly, or monthly. This way, you can easily adjust the size of your workspace as per your requirements. These flexible plans also help prevent any unwanted costs that often arise in long-term commitments.
3. Flexibility
Work flexibility is an effective way to boost your team’s productivity without leading to stress or burnout. Therefore, choose co-working spaces in Singapore that offer all-day workspace access. This way, you can implement more flexible working arrangements, which can help your employees achieve peak performance.
[suggestive read: The 7 benefits of working in collaborative workspaces]
4. Amenities
Apart from their affordability, another great thing about coworking spaces is the complimentary amenities included in their packages. Internet, meeting rooms, collaborative public spaces, and administrative support are the typical features of a coworking space. These help elevate your overall business performance, so looking for one that offers such amenities is necessary.
5. Networking Opportunities
Building networks help businesses grow and flourish in their respective industries. This stresses the importance of looking for a workspace within a vibrant community of like-minded professionals, which can be valuable for your company’s success in the market.
Workspace will be only daunting if you are not equipped with enough knowledge. Therefore, it is important to consider these factors when choosing a coworking space in Singapore. Continue reading below to unlock some exciting offers for your business.
Best Co-Working Spaces in Singapore to Consider
The search for the best coworking offices in Singapore ends here! Below are incredible workspace options that you may consider for your business.
JustCo (Singapore)
One-north Crescent, Singapore
| Available Offices | 25 Offices |
|---|---|
| Capacity | 1 - 50 Desks |
| Price Range (Month) | SGD 118 to SGD 26,002 |
|---|---|
| AVG Desk Price (Month) | SGD 521 |
Just Co offers a sophisticated coworking space within one of Singapore’s busiest business districts. This workspace can help you expand your horizons with its rich community of like-minded individuals. Businesses or startups in the fields of biomedical sciences, infocomm technology, media, and engineering are the best fits for this coworking office.
Workspace Highlights
- Cozy nooks for taking private breaks.
- A dedicated room for hosting internal seminars.
- 24/7 access for flexible working hours.
- Exclusive access to networking and lifestyle events.
Located in Singapore’s highly secure and business district, you can check out the nearby Mac's Cafe & Bar, eTuckshop, and The Brake Kitchen at a distance of 5 to 7 minutes. Other than this, Breathe Pilates gym is also accessible at an 8 minute distance.
The Work Project (Singapore)
2 Science Park Drive, Singapore
| Available Offices | 16 Offices |
|---|---|
| Capacity | 1 - 36 Desks |
| Price Range (Month) | SGD 457 to SGD 22,622 |
|---|---|
| AVG Desk Price (Month) | SGD 639 |
When looking for a coworking space with 24/7 access, consider this listing at 2 Science Park Drive. Take this as an opportunity to establish more flexitime schedules within your company. Rest assured that your team is well-protected from day to night since it also has a 24/7 robust security system.
Workspace Highlights
- Access to their global network of professionals.
- Well-equipped meeting pods for private business discussions.
- Fast internet access to ensure a productive workflow.
- Collaborative spaces for quick chats and brainstorming sessions.
This workspace is further situated in Singapore’s innovation Corridor and after a long day at work, you can visit the popular bars like Global Kitchens and The Good Beer Company or cafes like Asian Twist by 365 Food and Fun Toast (Science Park) for satisfying your food cravings or just relaxing.
Regus (Singapore)
1 Fusionopolis Place, Singapore
| Available Offices | 20 Offices |
|---|---|
| Capacity | 1 - 20 Desks |
| Price Range (Month) | SGD 127 to SGD 15,987 |
|---|---|
| AVG Desk Price (Month) | SGD 792 |
Regus, the real estate giant, offers a stunning coworking space with fast-speed internet connectivity. Use this seamless connection to foster uninterrupted workflows, allowing your team to beat their deadlines. This amenity can also be beneficial for conducting virtual gatherings during hybrid working days or meeting remote clients and team members.
Workspace Highlights
- Big discounts for reducing rental costs.
- Onsite staff to answer incoming calls.
- Printing facilities for needed documents.
- Wide parking spaces for your team’s vehicles.
Located in a safe and business oriented neighborhood, you can check out the nearby places like Donna Restaurant & Bar, Daily Grind, a SPINELLI Joint, Winnie's, or Un Coffee once you’re done with your work.
The Great Room (Singapore)
3 Temasek Avenue, Singapore
| Available Offices | 14 Offices |
|---|---|
| Capacity | 1 - 34 Desks |
| Price Range (Month) | SGD 174 to SGD 35,001 |
|---|---|
| AVG Desk Price (Month) | SGD 1,167 |
On the hunt for co-working spaces in Singapore with incredible perks? Why not consider The Great Room’s listing at Temasek Avenue? This workspace provides its tenants with exclusive perks, including Monday Breakfast Club, wellness workshops, and media masterclasses.
Workspace Highlights
- Stunning meeting rooms with video conferencing equipment.
- Office cleaning services for keeping a pleasing atmosphere.
- Strong security system for keeping your team safe.
- Only a short walk from public bus stops.
This workspace offers everything you will need for a seamless work experience, but don’t forget to check out the nearby fun spots like Ginza Lion, Paulaner Bräuhaus Singapore, Huggs Coffeebar @ Millenia Walk, and Joe & Dough located at a walking distance of 1 to 5 minutes.
The Hive (Singapore)
1 Kallang Junction, Singapore
| Available Offices | 4 Offices |
|---|---|
| Capacity | 1 - 24 Desks |
| Price Range (Month) | SGD 283 to SGD 12,871 |
|---|---|
| AVG Desk Price (Month) | SGD 492 |
Securing this coworking office of The Hive guarantees complimentary administrative services for your business. This includes handling incoming calls and mail concerning your company. It also involves professional treatment of your guests, clients, or investors during their office visits.
Workspace Highlights
- Receptionists who assist in performing administrative functions.
- Well-ventilated and climate-controlled environment for comfortable working.
- Outdoor public spaces for relaxing and airy breaks.
- Exclusive community activities for meeting other tenants.
Besides commuting through the vibrant area of Geylang, you can stop by at Crown Coffee, Happy Hut, or hej Cafe & Shop, and the popular eateries and bars. Finally, for working out, check out the ethiks agents gym located 7 minutes away.
These are just a few of the many options we listed. But you can expand your options by visiting our site and browse more coworking desks for rent in Singapore, depending on your location, budget, and office type preferences.
Frequently Asked Questions (FAQs)
1. What is the coworking space cost in Singapore?
A coworking office in a central spot in Singapore typically costs S$8 per hour. However, keep in mind that the rate may vary depending on the location, amenities, provider, and supply. Hence, it is always best to coordinate with the providers or flexperts to get accurate prices.
2. What is the etiquette for coworking space?
Coworking space is a shared environment. Therefore, you need to be mindful of the do’s and don’ts to maintain peace and order within the workspace. Here are some of the reminders that can be helpful in your coworking journey:
- Control noise levels
- Keep the workspace neat and organized
- Respect your coworker’s boundaries
- Establish good relationships
- Avoid monopolizing shared resources
- Stay at home if feeling unwell
3. Why do coworking spaces fail?
Coworking spaces do not usually fail. However, they may sometimes fail because of inconvenient locations, low-quality equipment and furniture, poor workspace management, and unfriendly communities. These issues should be addressed to prevent your coworking space from falling apart.
Rent Your Coworking Space Today!
Singapore is indeed a great place to start a business. It has a growing economy, a business-friendly environment, a great trading system, favorable tax policies, and a highly skilled workforce. All these advantages explain why the demand for co-working spaces in Singapore is on the rise.
If you want to secure your coworking space today, Office Hub is here to guide you!
Tell us your workspace requirements today, and our experts will quickly shortlist the best options for your business. After that, select your desired workspace, and we will book a tour for your evaluation. Don’t worry, as all these services are FREE!
Connect with us today to get started!
