How Much Does an Office Space Cost in Singapore: A 2025 Pricing Guide
You might wonder, 'How much does an office space cost in Singapore?
Don’t worry! In this blog, we will explore the key factors influencing rental prices, expert tips for finding the perfect office space, and negotiation hacks to ensure you won’t break the bank. Dig in and make an informed decision today!
Average Cost of Office Spaces in Singapore
On average, office rentals in Singapore can range from SGD 400 to over SGD 1,000 per desk per month. For traditional leased offices, the cost is usually calculated by square foot. Current rates range from SGD 7.00 to SGD 14.00 per sq ft (gross, including service charges), depending on the location and building quality.
For a small team of 5–7 people, expect to spend SGD 8,000 to SGD 20,000 per month. Since office rent is the second-largest business expense after salaries, choosing wisely is crucial. Factors like accessibility, amenities, and long-term strategy should guide your decision.
Breakdown of Office Rental Rates by District
Office rental prices in Singapore vary widely depending on the district, building grade, and proximity to transport and amenities. Premium areas like Marina Bay and Raffles Place command some of the highest rents in the city, while locations further from the CBD, such as Novena or Jurong, provide more budget-friendly alternatives.
To help you compare options, here is a district-by-district breakdown showing the lowest and highest rental rates per square foot.
New Downtown and Raffles Place (District 01)
The financial heart of Singapore is home to banks, insurers, and law firms. Premium towers, such as Marina Bay Financial Centre, fetch SGD 13–15/sqft, while older buildings, like The Arcade, go for SGD 6 to 7.40/sqft.
Tanjong Pagar (District 02)
Favoured by tech, media, and flexible workspace providers, this area is very well-connected by MRT. Premium towers, such as Guoco Tower and Frasers Tower, charge SGD 13–14/sqft, while mid-tier spaces, like 100AM, are about SGD 8.50/sqft.
Alexandra, Harbourfront, One North, and Buona Vista (Districts 03–05)
Known for tech parks and regional HQs, this area blends affordability with accessibility. Harbourfront Towers rent for SGD 6.50–8.50/sqft, while Mapletree Business City ranges from SGD 4.80 to SGD 9.50/sqft.
City Hall, Clarke Quay and Promenade (District 06)
Prime central locations with iconic buildings, such as Centennial and Millennial Towers, priced at SGD 4.00 to 14.20/sqft, depending on the building grade and views.
Bugis and Rochor (District 07)
A vibrant, up-and-coming business hub. Premium properties, such as Duo Tower, sell for SGD 12.50–14.20/sqft, while Gateway East & West average SGD 8.50/sqft.
Orchard Road (District 09)
Better known for shopping, Orchard Road is also a commercial hub. Ngee Ann City rents are around SGD 10.50/sqft, while Great World City offices are closer to SGD 9.50/sqft.
Novena (District 11)
A budget-friendly option north of the CBD, offering a mix of offices and residential convenience. Rents average SGD 4.30–8.80/sqft.
East – Changi, Tampines, and Pasir Ris (Districts 17–18)
Popular for banking back-office operations and affordable alternatives to the CBD. Changi Business Park averages SGD 4.00+/sqft, while Tampines offices are about SGD 6.00/sqft.
West – Jurong and Tuas (District 22)
An industrial powerhouse and emerging commercial hub. Offices in Jurong Gateway are priced at SGD 7.75–8.20/sqft, while more industrial locations average SGD 4.00 or more per square foot.
Rents of Flexible Office Spaces in Singapore
Under the category of flexible office spaces, various space types are available, including coworking spaces, private offices, shared offices, enterprise offices, and virtual offices.
Understand the differences between these flexible office spaces and their prices in Singapore below.
Private Offices
Private offices in the UK offer dedicated, enclosed spaces that are ideal for businesses seeking privacy and focus. They are well-suited for small teams and professionals who require a quiet, secure environment with full access to amenities. On average, private offices cost SGD 720 per desk per month.
Enterprise Offices
Enterprise offices are designed for larger companies that need scalable and customised workspace solutions. They typically include private meeting rooms, branded spaces, and advanced IT infrastructure. The cost for an enterprise office is around SGD 800 per desk per month.
Shared Offices
Shared offices enable businesses to rent desks within a shared space, benefiting from networking and collaboration opportunities. These spaces often come with flexible terms and access to shared facilities. The cost of a shared office is about SGD 500 per desk per month.
Coworking Spaces
Coworking spaces offer open-plan desks in vibrant, community-driven environments. They attract freelancers, startups, and remote workers who value collaboration and flexibility. The cost of a coworking desk in the UK averages around SGD 450 per month.
Virtual Offices
Virtual offices provide businesses with a prestigious address, mail handling, and sometimes call-answering services, all without the need for physical space. They are a cost-effective solution for companies seeking to establish a professional presence. The cost of a virtual office averages around SGD 180 per month.
Rental Rates of Our Office Space Partners in Singapore
Finding the right office space in Singapore often comes down to striking a balance between cost, location, and the level of service provided. Leading providers, such as Regus, JustCo, and Compass Offices, offer a wide variety of options, ranging from flexible coworking desks to premium serviced offices.
Below is a breakdown of their rental ranges along with example locations to give you a clearer view of what’s available in the market.
Regus
Our office space for rent in Singapore with Regus starts from SGD 428 to SGD 1,028 per person per month, depending on the location and type of workspace chosen. Regus provides a wide range of options, from coworking desks to private offices, all equipped with professional amenities.
Examples of Regus office spaces in SIngapore are:
JustCo (Singapore)
JustCo offers flexible coworking and office solutions with hourly rentals, making it an ideal choice for startups, remote teams, and businesses seeking short-term flexibility. Prices range from SGD 10 to SGD 25 per hour, depending on space size, location, and included amenities.
Examples of JustCo office spaces in SIngapore are:
Compass Offices (Singapore)
Compass Offices offer fully serviced offices designed for businesses that require professional space with scalable options. Prices range from SGD 880 to SGD 14,700 per month, offering tailored solutions for startups, SMEs, and large corporations across Singapore’s key business districts.
Examples of Compass Offices in Singapore:
Factors Affecting Singapore’s Office Rental Prices
In addition to the cost comparisons, several factors influence the rental prices in Singapore. These factors are discussed below.
Location
Choosing the right office location in Singapore is crucial and can significantly impact your business’s success.
The Central Business District (CBD), encompassing iconic areas like Raffles Place and Marina Bay, commands the highest rental premiums due to its prestige, accessibility, and proximity to major financial institutions. Expect to pay significantly more for an office in these prime locations than in non-CBD areas.
Popular areas within the CBD, such as Marina Bay, can experience soaring rental prices due to their iconic status and high demand. Conversely, peripheral CBD locations offer slightly more affordable options.
Access to public transportation, particularly MRT stations, is a key factor in determining rental costs. Offices near major transport hubs are generally more expensive but offer unparalleled convenience for employees and clients.
Office Size and Layout
Rental prices are typically quoted per square foot, with larger office spaces naturally incurring higher monthly expenses. It's essential to accurately assess your space requirements to avoid renting excess space and incurring unnecessary costs.
The office layout can significantly impact rental costs, whether an open-plan configuration or a partitioned space. Open-plan layouts usually offer cost savings due to efficient space utilisation, while partitioned offices may require additional customisation expenses.
Building Quality and Amenities
Similarly, Grade A office spaces with state-of-the-art infrastructure, premium amenities, and prestigious addresses command the highest rental rates. These buildings often feature advanced security systems, high-speed elevators, and luxurious common areas.
Grade B and C buildings offer more budget-friendly options, providing essential amenities without the premium price tag. However, they may lack the modern facilities and prestige of Grade A buildings.
Amenities such as gyms, meeting rooms, business lounges, and concierge services contribute to the overall rental cost. However, they can also enhance employee satisfaction, productivity, and business image.
Lease Terms and Duration
When renting an office space in Singapore, you’ll come across two types of lease agreements:
- Short-term leases, such as month-to-month agreements, offer flexibility but typically come at a higher per-month cost. They are ideal for startups and businesses with fluctuating space requirements.
- Long-term leases, typically spanning several years, provide stability and potential cost savings. Landlords often offer discounts and incentives for longer lease commitments.
Overall, negotiation is a prominent aspect of securing favourable lease terms. Understanding current market trends, rental rates, and landlord incentives can empower you to negotiate effectively.
Hidden Costs and Negotiation Tips to Consider
Beyond the base rent, several hidden costs can significantly impact your overall office rental expenses. Have a look at the below.
- Maintenance Fees: These fees cover the cost of maintaining common areas, building infrastructure, and security systems.
- Utilities: Electricity, water, internet, and air conditioning can significantly increase the costs, especially for larger office spaces.
- Renovation Costs: Customising the office space to meet your specific needs can involve significant expenses for fit-out, furniture, and technology.
- Agent Fees: Real estate agents typically charge commissions for their services, ranging from one to two months of rent.
- Stamp Duty: This is a tax levied on lease agreements.
- Moving Costs: Expenses incurred when relocating your business to a new office space.
Similarly, here is how to negotiate for a better office price and experience:
- Research Market Trends: Stay informed about current rental rates, vacancy rates, and landlord incentives.
- Be Prepared to Negotiate: Don't hesitate to negotiate rental rates, lease duration, and other terms.
- Seek Professional Advice: Consult with experienced real estate agents and legal professionals.
- Understand Landlord Incentives: Many landlords offer incentives, such as rent-free periods or fit-out allowances, to attract tenants.
- Be Flexible: Consider flexible lease terms and office space configurations that accommodate your needs.
Rent an Office Space in Singapore with Office Hub!
Understanding the office space cost in Singapore requires a comprehensive analysis of various factors, including location, office size, building quality, lease terms, and hidden fees. So, conduct thorough research, accurately assess your needs, and negotiate effectively to secure an office space that aligns with your budget and business objectives.
Since finding an ideal office in Singapore is not easy, Office Hub is here to help! Our team of experts can help you navigate the market's complexities and secure the best possible deal.
Contact us today for personalised assistance in finding the perfect office space in Singapore.
