Coworking Market Booming – Forecasted to Reach US$407M by 2030 (24% CAGR)
Singapore’s coworking sector is skyrocketing. One market report projects the city-state’s coworking market to grow from about US$88.2 million in 2023 to roughly US$407.8 million by 2030 – an astonishing ~24% compound annual growth rate. This surge reflects Singapore’s strong economy and pro-business policies. Flexible, shared workspaces now form a meaningful slice of Singapore’s office market and are expected to capture 15% or more of office supply by 2030.
This growth is great news for professionals, entrepreneurs, startups, and remote teams seeking modern work environments.
Market Trends Driving Coworking Growth
Several trends are fueling Singapore’s coworking boom:
- Startup and SME growth: Singapore’s vibrant startup ecosystem is growing fast. New businesses and small teams prefer agile, plug-and-play offices. Coworking spaces offer these startups lower overheads and flexibility, helping them scale without long-term leases.
- Government and corporate support: The Singapore government has long promoted flexible work, signaling official backing. Likewise, MNCs and public agencies are piloting flexible hubs to boost innovation and employee satisfaction.
- Hybrid and remote work culture: Post-pandemic, many companies embrace hybrid models. Workers value community, collaboration, and amenities that traditional offices can’t always provide. Coworking operators have noted member demand for social events and networking, turning flexible spaces into vibrant ecosystems.
- Demand for flexibility & cost-efficiency: Rising office rents and high vacancy post-COVID have made long leases less attractive. Flexible terms (daily desks, month-to-month memberships, shared resources) let companies right-size space to match their headcount and budget.
- Community and amenities: Modern professionals often seek more than a desk. Coworking providers now offer premium amenities (high-speed Wi-Fi, meeting rooms, gyms, cafés) and events, creating a “third place” workplace. Spaces like The Great Room and JustCo emphasize culture and networking, drawing diverse industries into the coworking fold.
These trends together mean coworking is no fad but a staple of Singapore’s office landscape. The total coworking footprint in Singapore’s offices has tripled since 2015 – from about 1.2 million to 3.7 million square feet by 2022 – and is still growing.
Projected Growth (2023 vs. 2030)
The table below highlights key data for the Singapore coworking market:
| Year | Coworking Market Size (USD Millions) | Flexible Office as % of Total Office Stock |
| 2023 | 88.2 | ~4% |
| 2030 | 407.8 | ~15% |
Table: Projected coworking market growth and share of office space in Singapore (2023 vs. 2030).
How to Choose Your Ideal Coworking Space
With many coworking options available (WeWork, JustCo, The Working Capitol, The Hive, and local boutique spaces, to name a few), picking the right fit can be challenging. Focus on your team’s needs across these factors:
- Location & accessibility: Choose a convenient spot near public transit or highways if commuting is key. Offices in CBD areas like Raffles Place or Tanjong Pagar offer prestige and networking, while suburban hubs (Jurong Lake District, One-North) can be cheaper and closer to home.
- Space and layout: Do you need private offices, dedicated desks, or just a hot-desk? Some spaces offer a mix. Consider headcount and whether you need meeting rooms or quiet pods.
- Amenities and services: High-speed internet is a must. Look for essentials like printing, phone booths, and 24/7 access. Perks like coffee, fitness rooms, or event programming can add extra value.
- Flexibility and terms: Compare membership options – daily passes, monthly contracts, or yearly deals. Look at what’s included in the price and check the fine print for hidden fees.
- Budget: Coworking prices vary widely. Calculate the cost per desk or per person and weigh it against location and features.
- Community and culture: Visit shortlisted spaces if possible. A coworking space’s atmosphere matters. Ask about events, talk to members, and choose a space that energizes your team.
By prioritizing what matters most – whether it’s connectivity, cost, services or community – you’ll zero in on the best options for your team.
Find Your Perfect Workspace with MatchOffice
Singapore’s flexible-office landscape is dynamic and growing. As the coworking market booms towards a US$407M valuation, the right workspace can give your team agility and inspiration.
MatchOffice is a premier search platform for Singapore offices and coworking spaces – browse hundreds of listings, filter by your criteria, and connect with operators in a few clicks. Whether you’re a startup on a shoestring budget or a multinational scouting satellite offices, MatchOffice can help you find an ideal fit.
Don’t miss out on Singapore’s coworking revolution. Explore the latest spaces on MatchOffice today and secure a workspace that powers your productivity and growth!
