Choosing the right office space in Singapore can make a huge difference to a business’s operations. However, finding the right office isn’t just about the location or furniture. It’s about understanding how the space, environment, and services offered will support your team’s efficiency.
Also, choosing the right office rental also involves tremendous cost assessment and management, since maintaining an office carries with it various overheads (e.g., rent, utilities, housekeeping staff) as well as expenditures (e.g., office reinstatement, non-refundable deposits, office equipment, etc.).
In this blog, we explore what to consider when renting office space in Singapore and guide you through how to make the best decision for your business.
The right office rental provides more than just a physical space for your team to work. It also:
The wrong office can lead to a poor workspace environment that hinders productivity and leaves a lacklustre impression on potential clients.
When considering office space, businesses often weigh serviced offices against traditional leases.
Traditional offices usually involve signing long lease agreements, often for several years, and include responsibilities for utilities, maintenance, cleaning, and furniture. They require upfront investment in infrastructure, furniture, and utilities, and businesses are fully responsible for ongoing costs. Businesses are also responsible for the upkeep and maintenance of traditional offices.
Serviced offices, on the other hand, are fully furnished workspaces and offer flexible office space solutions. They often include administrative support and are packaged with virtual office addresses. The virtual office provider handles housekeeping and maintenance of serviced offices, hence the term ‘serviced’. Also, variable costs such as utilities are already included in a manageable, all-inclusive rental fee. They are ideal for small teams, remote teams experimenting with in-person setups, or companies looking to establish a Singapore business presence quickly.
These two options are typically what businesses are looking for when referring to “office rentals.”
Choosing the right office space is about more than rent or location. Here are the key factors to consider.
Understanding whether an office is serviced is critical, especially for growing businesses.
A serviced office comes fully furnished, includes utilities, cleaning, mail handling, and often administrative support, while a traditional lease requires the company to manage all of these separately. This distinction affects both cost and convenience.
For growing businesses, a serviced office is a tremendous cost saver. Instead of investing heavily in leasing and constructing an office for themselves, they could rent out a fully-furnished one that’s managed and serviced by the virtual office provider.
Traditional offices benefit larger, more established businesses. Since the space is entirely theirs, they have more flexibility with workplace policy and can construct the space in a way that aligns with their corporate culture and business goals (e.g., including a gaming room in the office that isn’t otherwise included in a templated office).
Consider your company’s size, setup, and most importantly, budget when deciding between a serviced office or a traditional office.
It’s not just for shops and restaurants. It’s also a crucial consideration for setting up an on-site working hub. Where the office is located dictates:
Offices in Singapore’s central business district or areas like Marina Bay Financial Centre or Ocean Financial Centre provide easy access to clients, MRT stations, restaurants, and cafes. Walking distance to transport hubs improves employee convenience, reduces commute time, and strengthens your company’s professional image. Consider whether the building supports a productive environment with quiet zones, natural light, and suitable workspace layout.
Evaluate the amenities available in the office space. This includes furniture, utilities, and other services necessary for achieving proper productivity. Amenities include the following:
In traditional office settings, check for amenities provided by the corporate building. These could be the security, an office gym, and ground-floor commercial and retail areas.
When comparing office options, examine what is included in the rental package.
Serviced offices may include mail handling, administrative support, and office maintenance, while traditional leases often require separate contracts for these services. When it comes to serviced offices, the following are typically already included in their all-inclusive rental fee:
Instead of having to pay for these separately, serviced offices such as Parkway Suites bundle them into a single monthly fee. This makes cost management simpler and more organised.
However, be sure to clarify with your chosen office rental service on what’s included and what’s not. You may end up paying hidden costs from an assumption that something is included, when it isn’t.
Cost is an obvious consideration. However, it’s not just the monthly rent that matters.
Also consider what you’d be paying for utilities, labour costs for cleaning and maintenance, and also factor in non-refundable deposits and office reinstatement.
While the monthly rent may seem attractive, when the aforementioned fees are taken into consideration, the overhead may be anything but. Be aware of hidden costs that may arise. Evaluate whether the rent aligns with the allocated budget, and if it would be conducive to the long-term goals of your business.
Here at Parkway Suites, the rental for a fully-furnished office, along with utility fees, housekeeping, and administrative support, is all bundled into one monthly rental fee. This keeps budgeting manageable and predictable for our clients.
Flexibility in lease terms is another critical factor.
Flexible terms allow companies to scale up or down without being locked into long-term commitments. Many serviced office providers offer pay-as-you-go pricing models or multiple office packages at different price points. This gives businesses the flexibility to adjust according to team size, growth, or project requirements.
Keep an eye out for long-term commitments. They will lure you with the promise of “cost savings”, but the supposed cost savings will only be applied if you sign on a long-term lease. This will result in less flexibility and agility for your business, especially if you want to switch to a remote setup.
Reviews and feedback from other companies are valuable when evaluating office space. Positive reviews indicate a reliable provider and satisfactory support services.
Also, be sure to look through reviews from multiple platforms. Look through reviews on Google Maps and comments on their Facebook and Instagram pages. This ensures that you’re not just looking at good-looking curated reviews.
Serviced offices are ideal for multiple types of businesses:
In each case, serviced offices reduce the hassle of setup, allowing businesses to focus on core operations.
Renting a serviced office in Singapore involved four easy steps. The team can move in immediately after.
Begin your search by assessing the location. Consider MRT stations, walking distance, nearby cafes or restaurants, and the convenience for your team and clients. A well-located office contributes to productivity, professional image, and employee satisfaction.
Evaluate the building, layout, and workspace environment. Check if the space offers sufficient natural light, quiet zones, and enough room for your team size. Inspect the furniture, infrastructure, and support services available to see if they match your business needs.
Some serviced office providers allow businesses to upgrade packages or customise layouts. Determine whether private offices, coworking spaces, or additional office solutions are available. Flexible workspace options are critical for companies that anticipate growth or fluctuating team size.
Once you’ve shortlisted a provider and assessed the office space, you can sign the lease or rental agreement. Serviced offices are designed for hassle-free move-ins, often fully furnished with utilities, mail handling, and administrative support included. This allows your business to focus on operations rather than setup.
If you’re looking for a flexible office space in Singapore, Parkway Suites provides serviced office rentals with fully furnished private offices, mail handling, and administrative support. Their office solutions allow businesses to scale, adapt, and operate efficiently while reducing hidden costs and overheads.
Whether you are a small business, remote team, or a larger company needing temporary space, Parkway Suites offers office options suitable for team size, budget, and future growth. Contact Parkway Suites today to explore flexible office space that matches your business needs
Some providers offer coworking or flexible-use packages that allow businesses to rent space for short durations, ideal for remote teams or part-time staff. Check with the office provider for hourly or daily rental options.
Yes, many serviced offices offer registered business addresses that meet ACRA requirements, but it’s essential to confirm this before signing a lease.
While serviced offices are typically furnished, some providers allow customization of layouts or decor depending on the package. For major renovations, traditional office leases are better suited.
Most serviced office packages include utilities in the all-inclusive rental fee, but it’s always best to confirm with the provider which utilities are covered.
