SINGAPORE: Singapore has officially taken the crown as Asia Pacific’s most expensive flexible office market, with prime desks now averaging about US$800 a month. That’s according to Workthere’s latest Flexmark 5.0 report, which points to strong demand from global companies that rely on the city-state as their regional HQ — and want workspaces that reflect that status.
On the global stage, however, Singapore sits at 12th place, far behind the true heavyweights. London continues to dominate at around US$1,320 per desk, followed by New York, Los Angeles, Dubai, and Riyadh.
Meanwhile, other Asia Pacific cities are not far behind Singapore. Tokyo and Sydney both come close to the US$800 mark, while Hong Kong and Beijing remain slightly more affordable. And for companies looking to stretch their budgets, cities like Ho Chi Minh City, Kuala Lumpur, and Bangkok still offer some of the region’s lowest flex office prices.
A flex market that’s cooling — but still strong
Workthere’s global survey — spanning 149 flex office providers and Savills experts — suggests that the frenetic post-pandemic demand for flexible space has finally started to level off. This year, private offices hit an average occupancy of 81%, while coworking spaces settled at 65%, a noticeable dip from the more uncertain days of 2022.
Even so, operators don’t see demand slowing anytime soon. Many expect a steady climb heading into 2026 as companies continue leaning on flexible workspace to navigate a choppy economic landscape.
What’s interesting is that even as occupancy cools, people are actually spending more time in shared offices. Time spent on-site is up 20% since 2022 — a sign that companies are tightening attendance expectations. Asia Pacific leads the world here, with users showing up an average of 4.13 days a week.
Multinationals still rule the region
Flex offices in Asia Pacific are dominated by large global corporations, which make up 41% of users. For many of these companies, flexible space offers a quick foothold in new markets — without the hassle of signing long leases.
They’re followed by:
- Start-ups and SMEs: 25%
- Scale-ups: 16%
- National corporates: 15%
Why amenities matter more than ever
With competition heating up among operators, amenities are no longer just nice-to-have — they’re critical. Worldwide, firms say they value conference/meeting rooms, other types of collaboration spaces, and private phone cubicles. These predilections mirror current reality – a fusion of work options, team clusters, and privacy requirements all in the same place.
But sense of taste differs by region:
- North America: People want car parks and fitness centers.
- Asia Pacific & Europe: Sustainability features — think energy-efficient buildings or green certifications — carry serious weight.
Expansion is coming but with different playbooks
A sizable 85% of workspace providers plan to expand over the next year, though their strategies are diverging by region.
In Asia, the traditional leasing model still dominates — 56% of operators are using it to expand quickly in fast-growing markets like India, Vietnam, and Malaysia, where global capability centers are booming.
In Europe, however, operators are shifting toward management agreements, where they run the workspace while landlords keep ownership and share the revenue. This model is surging, rising from 45% in 2023 to 63% in 2025, as both sides try to stay nimble during uncertain times.
A major push toward quality
Looking ahead, the flex industry is moving toward a clear trend: a “flight to quality.” Companies want offices that not only function well but feel good — beautifully designed spaces with strong amenities that help draw employees back.
And with expectations rising across Asia Pacific, Singapore’s premium pricing may just be a sign of what’s coming for the region.
