Serviced Office Singapore: Guide to Cost of Renting 2021

When it comes to renting premises for your office space, it can be said that this might be of huge expense.

And if you look forward to getting a traditional office space, you are bound by those cumbersome and not so flexible fixed term years.

In Singapore, serviced offices are reducing the challenge in the sector by providing the most lucid and flexible array of office spaces for you.

Get access to fully decorated and furnished office space stuffed with a majority of amenities as well as a great interior.

Renting Serviced Offices in Singapore 2021

You can access to such a view too.

We can say that serviced offices in Singapore are generally overlooked for the matter of fact that they are a bit costlier. Their monthly fees might be a bit higher, but, as a customer, you get access to a few lush facilities that are unmatched. A serviced office in simpler terms is a place for which you pay-as-you-use space.

Bundled with plenty of benefits, we can say that serviced offices can be your best catchy for the purpose of getting the best bang for your buck.

Why are Serviced Offices Popular in Singapore?

According to research, an array of reputed business houses in Singapore are looking forward to availing short-term lease agreements. When we talk about spaced/serviced offices, you get access to a monthly pay-out facility in which you can settle and renew the agreement every month.

This adds flexibility when it comes to strict lease agreements. Although rental expenses are a bit higher when you opt for this option, it’s worth exploring.

People love the fact that it is

a) short-term office rental

b) fully furnished office for rent

We’ll talk about how much does it cost to rent a services office in Singapore in this article.

Costs and Fees associated with any Serviced Office in Singapore

When it comes to renting a serviced office in the country, there is an array of costs that are associated and should be taken into account. Serviced office provider might ask for credit checks as well as references for the purpose of attaining the guarantee that you can pay your regular rent. Rents are usually paid in advance in serviced office domain of the country.

One must take utmost care to not delay payments, as serviced offices come with some hefty late payment ruled. Office providers reserve the right to recover any extra charges with added ease.

Rental periods are obviously pretty flexible in nature when we talk about serviced offices. It can simply go from a month to around six months. There are also serviced offices that allow regular day-to-day tenants. Thus, your rent is divided as per your usage.

Factors that affect rental costs of a serviced office

• Quality of interior
• Location around the city
• Internet Connectivity
• Number of desks
• Building’s Floor
• Extra amenities

Talk to us if you are searching for best deals in Singapore

Serviced Office Singapore Price Guide 2021

Area	Price Guide / Per Pax (SGD)
Raffles Place	900 – 1500
Tanjong Pagar	700 – 1200
City Hall / Bugis	700 – 1200
Lavender	600 – 800
Orchard	700 – 1000
Tampines	500 – 800
Jurong East	500 – 900

Serviced office providers might also charge customers for telephone usage on a handset basis. In accordance with a general trend in the industry, customers are generally required to opt for a handset for every desk deployed in work. On average, it costs a little over S$60 per month for renting a line. Further, call charges might vary as per your local, interstate or international usage.

The average cost of a fully-furnished serviced office in the country stands at SGD 1000 to SGD 5000 per month. Well, above-mentioned variables like office space, location and amenities offered are also there, that might affect the overall cost. Internet, parking, lounges, reception and much more have been included in your monthly spaced office package.

On average, serviced offices are somewhere between 100 square feet to 300 square feet in posh office hubs. You can get access to both, co-working office spaces as well as private suites when you opt for instant offices.

For example, you can rent a serviced office at Singapore’s United Square on 101 Thomson Road starting from $24 per person per day to $100 per person per day. You can rent a window office space at Singapore’s Toa Payoh Public Library from $28.4 per person per day. The prices mentioned above are offered under a 2-year contract of the respective serviced office spaces.

For big enterprises out there looking forward to availing an eye-catchy office space, you can rent your dream office lounge at Guoco Tower starting from $28.9 per person per day to $115 per person per day for a 2-year contract. You can work anywhere around the country on hourly, weekly, monthly as well as much obvious, yearly basis with your favourite serviced office in Singapore.

Classification of Serviced Offices in Singapore

Grade A Serviced Offices

In simpler words, grade A offices encapsulate superior quality as well as offerings. These are usually located in most lush and prime locations of the country. The buildings of Grade A serviced offices are well-maintained and they are generally architectural landmarks, hence, it increases their appeal. Grade A offices are generally located in buildings that are over 100,00 square feet in size.

As a customer, you can get access to absolute transport facilities blended with an array of premium amenities. Another bundled bloom that comes handy with serviced offices of Grade A rating is that they offer a professional appeal, these are suitable for international standards and these type of serviced offices are up to the level of high profile companies.

Thus, it leaves a remarkable impression. On average you can get your Grade A Serviced office in Singapore for around S$1200/mo/pax upwards.

Grade B Serviced Offices

When it comes to rented costs for Grade B serviced offices in the country, we can say it’s a bit lower. Generally the same is about 30 to 40 percent of the cost of any Grade A office space. Quality of any Grade B office is good enough but not of superior level. These tend to be located in fairly good locations, but serviced offices under grade B lacks architectural attraction as well as infrastructure’s presence. These can be older than 10 years and might not feature lush corporate client neighbours. You can attain a grade B serviced office space in the country for around $700 or less/mo/pax in Singapore.

Offices with CO-WORKING

Nowadays people look forward to a hybrid model of serviced office and a common co-working spaces as described in the video below. Still premium spaces like The Great Room, WeWork, The Working Capitol and Collision 8.

Virtual Offices Singapore

If a co-working space is still a little too costly, the final option would be to look into a virtual office. Companies like Regus not only offer co-working spaces but virtual office options, which provides a physical business address for your company, with additional options for call answering, mail forwarding and the ability to relocate to a different location, all without being physically at the location. This would be the most cost affordable option for start ups or one-man companies which do not need a physical space, since you can always meet clients at their offices or at a nice cafe. Virtual Office Singapore even offers a meeting room that can be used to meet clients located centrally at Shaw Centre in Orchard.

The annual cost of a virtual office is a minute fraction of a month’s rent for a regular commercial property, costing $300 for an entire year for a basic business address alone. With dedicated fax, auto-attendant phone service, and a premium business address membership which includes mail forwarding, the total cost for a year’s membership would amount to approximately $1000⁷.

Office Type	Grade A	Grade B / Conventional	Shophouse	Industrial/Warehouse Office (Outside CBD)	Business Park	Co-Working Spaces	Virtual Office
Rent (per month)	$10.31-$10.49 / sqft	$8.26-$8.93 / sqft	$3.50-$7.50 / sqft	$1.15-$3.50 / sqft	$4.20-$5.50 / sqft	$500 / hot desk	$300++

Comparison of Serviced Offices and Coworking Space in Singapore

Below is a table explaining the difference between each option:

	Co-working Space	Serviced Office
Office	Equipment, facilities and working areas shared in an open space with bars, coffee rooms, and similar provisions are available to help create a conducive working environment.	Office space is privately rented to maintain discretion. Boardrooms, office equipment, lounges, and similar facilities are provided and shared among the various clients.
Design	Coworking spaces are designed to look casual and encourage interactions among patrons who liaise and exchange ideas. They tend to attract younger people who are corporate looking individuals.	These are designed to attract members of the corporate world and are befittingly designed.
Culture	It usually attracts freelancers and startups whose activities are supervised by facilitators meant to attend to their inquiries. Most patrons run an informal setup.	Largely patronised by major organisations looking for temporary office spaces due to moving or renovations. Most of such companies are looking to house additional staffs.
Lease Type	Varies with demand on a membership basis	Varies between 3-24 months

Check out on: Perks of Raffles Place Serviced Offices

Average rates of Serviced Offices around Singapore

Let’s begin with Raffles Place region: In Market Street Singapore, you can get your favourite fully furnished office space that would feature every lush amenity like Meeting rooms, 24×7 access, showers, security, lounge, boardroom, internet as well as furnished furniture for around S$1100 per person per month.

Tanjong Pagar offers the best office space opportunity for a little over $950 per person per month

At the City Hall area, you can get an affordable serviced office deal for $800 per person per month. The offices in the region will ensure you with every amenity such as administrative support, VOIP phone system, Wi-Fi, meeting room, IT support, reception, pantry, air-conditioning and much more.

If you would love to be at the North and West area like Woodlands, Jurong East, West Coast, rental can be as low as $350/mo per pax.

Office people who love the East area can settle for places in Changi, Paya Lebar, and Tampines which cost around the region of $400-$500/mo per pax.

Serviced Offices for Rent in Singapore – Options for you curated by SGOffices

Service offices come in every size tagged with a price mark. Prices for rental of a serviced office in any particular locality amidst the location in Singapore. Both, grade A and grade B offices are available to cater your needs in a splendid manner.

There are many serviced office operators in Singapore who do not have the time, expertise or resources to focus on marketing their properties. This is where SGOffices comes in; they fill this gap by passing the marketing costs saved by these operators on to you, and getting you better deals at the end of the day, with private serviced offices costing from $350 per person per month.

Serviced offices in Singapore are the new boon blended with the much needed, flexibility and cost-effective.

SGOffices specialises in the Central Business District areas of Raffles Place, Tanjong Pagar, and City Hall areas, as well as Jurong, Lavender, Bugis and Tampines areas.

SGOffices makes no commissions from any rental agreements made so you can rest assured that you will be receiving cost savings by going through SG Offices for your next office rental.

Check out with our consultants at SG Offices to see how we can match you the best office space in Singapore.