The business environment in Singapore is among the most friendly internationally and as such Singapore is a perfect place for start-ups and SMEs. Therefore, when selecting office space in Singapore, one needs to consider factors such as price, facilities, and location as well as the fact that it can be more advantageous to be situated in a community. The choice areas offer the best of these components to foster business development from start up to expansion.
Whether you’re a team of two or a company of twenty, these are the 10 best places to rent office space as a Singapore startup or small business:Whether you’re a team of two or a company of twenty, these are the 10 best places to rent office space as a Singapore startup or small business:
1. One north
One north comprises one Buona Vista that accommodates startup related to media, biomedical science, ICT, electronics among others. This 200 hectare bustling business hub of the city has a diverse coworking spaces for incubation, science parks, talents and launch pads particularly for technology and start up companies. The rental rates for the commercial spaces begin from $3 for every square feet of area.
Key highlights:
- Valuable contacts with research communities and talented individuals from universities and other research houses located there
- Contemporary working spaces and great amenities (conferencing, high-speed internet and other related services).
- Lounges, receptions, and meeting areas to effectively connect, share knowledge and create partnerships
2. City fringe
Tanjong Pagar, Outram and Duo area in Bugis which are the city fringe area provide a blend of old buildings heritage with new modern shifting building that have been transformed into trendy offices and coworking spaces. The gross rental starts from $5. 50/sq ft which is affordable and convenient with F & B outlets and accessibility to Tanjong Pagar’s MRT station.
Key highlights:
- It comprises of modern and traditional architecture to give it that unique look.
- Its advantage is relatively close distance to the CBD or central business district.
- Many interesting cafes, bars and shopping areas on the doorstep
3. CBD
CBD: It is located in the middle of the commercial area in Singapore focusing on the quality office complex with high end facilities. The most desired districts are Raffles Place and the Marina Bay Financial Centre and rates start at more than $11 per square feet.
Key highlights:
- Luxury location and services Creating a prestigious address and high end facilities
- This is because the idea of being closer to clients and partners makes a lot of sense.
- He could easily travel by public transport to get to the venue.
4. Jalan Besar
This cultural area has slightly lower rental cost, which ranges from $4 to $5 per square feet cheaper and creative companies may find places in the Jalan Besar area, where coworking spaces are opened among the shophouses and warehouses and that have meeting rooms, printing services and others.
Key highlights:
- Interesting working environment in contrast to classical business-like areas.
- Affordable rents that would appeal to cash-conscious and early-stage startups.
- It means that Parco and Workspace Asia Gateway have new and redevelopment coworking space in Jalan Besar.
5. Paya Lebar
This area is rapidly transforming from a residential one to a vibrant business hub mainly due to the accessibility it offers to Paya Lebar MRT interchange. Some of the features of coworking spaces found here include high ceilings, natural lighting, alcoves, conference and kitchenette facilities. It will be packed with shops, F&B establishments, and entertainment facilities to cater to the needs of visitors to Paya Lebar Square.
Key highlights:
Growth area with excellent accessibility, interesting future perspective
Floating space or modern coworking spaces for $5-$7 per square feet.
A dynamic environment coupled with the ability to engage in leisure activities within the vicinity.
6. Tampines Regional Centre
The regional business space in Tampines is a central focal point of entrepreneurship incubating small business startups engaged in technology, innovation and sustainability. Like other startup hubs, there are coworking spaces too in this area including IDEA. Tampines offer the opportunity for growth of local businesses through connectivity. Another advantage is the close proximity to Changi Business Park.
Key highlights:
- Encourage people to use local products and services and to support new businesses.
- Concentration on technology that is related to various government initiatives.
- It is a part of the growth and well network regional centre.
7. Science Park
With numerous technology startups, technology companies and accelerators, it is obvious that Science Park has all the features of a modern environment along with great infrastructure and connections to the startup community. With melting plans, high-speed internet connection, and monthly technology meetings, rental prices start at $3. 80/sq ft.
Key highlights:
- It is an environment and community oriented towards technology.
- Sector-specific niches for cybersecurity, deep technology and biomedical Sciences
- Flexible and cheap workspaces with various options like private offices, dedicated desks, and open space desks.
8. Chinatown
Given that this can be described as a tourism and cultural precinct, it may be quite hard to find startups in this area. But here the coworking spaces providing hot desks begin at $350 per month. As for commercial structures, shophouse units transformed into youthful lofts also exist and Chinatown offers cheaper and old school office spaces. Cuisine, trains, and spirit of the area contribute to the locale.
Key highlights:
- Shophouse offices themselves are unique and their design contributes to the identity of the brand.
- Low rental rates that may be key to bootstrapping new startups
- Tanjong Pagar MRT and Central Business District are easily accessible from the building.
9. Joo Chiat
The Joo Chiat district of Singapore is located along two of the roads namely the Joo Chiat Road and the East Coast Road which is famous for its Peranakan or Baba-Nyonya heritage with regards to food, architecture, and traditions. Newer projects provide cost effective options for mixed use spaces where the start up company and its employees can work. Average of the rental rates is about $3 to $4 per square feet. The employees have an opportunity to enjoy good restaurants and there is a shop nearby.
Key highlights:
Affordability in terms of cost with superior accessibility
- Some of the buildings that are still standing include the eclectic shophouses which flank some parts of the new developments.
- Near to desirable restaurants, shops, and Paya Lebar MRT station
10. Upper Thomson
New generation formations like start-ups and small business establishments are habiting in bungalows and private houses in Thomson area. The current accommodation that has been turned into home offices offers access to CBD and is cheaper than shophouse rentals. The low-rise environment suggests space for more contemplation and growth, with rental prices starting at $3 psf depending on the space.
Key highlights:
- Organizational luxurious homes operate as offices
- High-frequency background noise disrupted productivity more in the quieter residential setting
- With its lower density regarding the other areas on this list
Due to the availability of different options, every firm has the opportunity to select the office space most suited to them depending on their criterion, which can be budget, facilities, talent pool or proximity to clients. Probably the best work environment coupled with increased productivity starts with choosing the right office space. In essence, if a business person is planning to start or expand the business activities in Singapore, it is important to get the right space in the prime location. Whether you want a more residential lush Upper Thomson environment or to be in the hub where the big guns are located at Raffles Place, may your enterprise grow many folds from its Singapore roots in any one of the above hot spots best suited for business establishment.
