Chart of the Day: 84% of flexible workspace stock are in CBD
It hosts about 2.3 million sq ft of flexible workspace.
This chart from Colliers International shows that a significant majority of the Singapore market’s total flexible workspace footprint (84%) is within the Central Business District (CBD).
The firm found that the area is home to about 2.3 million sq ft of flexible workspace as of end-June. Meanwhile, the city fringe and the sub-urban area hosts 9% and 7%, respectively of the island-wide flexible workspace which totals 2.7 million sq ft.
“Looking ahead, we expect the flexible workspace footprint to grow in non-core CBD locations, and decentralised submarkets,” the firm noted. “For instance, four flexible workspace deals were closed in the Orchard Road micro-market during the first six months of 2018.”
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