OFFICE SPACE SEARCH
TEO GUAT SOON
TEO GUAT SOON
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Abstract
Firms have been seen moving from one office space to another especially when the rental level was low across the
board. Such mobility is conditional upon the availability of vacant space in the market and the ease of terminating
the leases prematurely. These conditions are found to be favourably provided in the Singapore's office market.
Prior to the shift, firms have to locate an alternative office space. The process of search with particular
emphasis on the search strategies/techniques is what this dissertation is looking into.
Through the analysis, it is concluded that newspaper advertisements, business associates / friends and real
estate agents are the most frequently used sources of information, and that different trades placed reliance on
different sources. Offices in the city centre have also been found to be the most demanded. Precaution and care has
been taken by firms in general in the selection of office space by examining 4 to 5 units. They, on the whole, took
less than one month to search. Besides the findings on search strategies, search related
issues are identified. Cost and shifting time are regarded as acceptable to firms. However, some firms although satisfied with the chosen unit are preparing for a move in the near future.
Keywords
Mobility, Conditional upon, Shift, Search, Search Strategies/techniiques
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Date
1989
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Thesis