Limited office space, need for flexibility could support demand for co-working market

CO-WORKING demand in Singapore could remain firm as some firms opt to rein in capital expenditure, amid tight vacancies in the office market, rising rents and economic headwinds.

Occupancy has recovered from the troughs seen during the pandemic, when safe distancing measures kept employees home-bound, said several co-working operators.

“Post-pandemic, we have noticed a greater receptivity for co-working and flex space,” said Ho Seng Chee, the chief corporate officer of JustCo. “There is increased demand for co-working across all our markets in Asia-Pacific.” Ho also noted that more multinational corporations (MNCs) are using flexible workspaces as their primary office.