Instant Offices released the latest research on the Singapore market and the trend is clear: flexible workspace is key to driving agility and delivering hybrid working models. Demand for flex is up 3% compared to the previous six months, term length has increased 33% and the average transaction size is up 32%.
In line with growing demand, supply in the region grew 6% from 2020 to 2021. Despite the continued impact of the pandemic, the drive to flex is attributed to corporate occupiers shifting to flexible space through enterprise solutions and a 14% increase in flex space uptake by tech companies.