The spatio-temporal-prediction (STP) method for multichannel speech enhancement has recently been proposed. This approach makes it theoretically possible to attenuate the residual noise without distorting speech. In addition, the STP method depends only on the second-order statistics and can be implemented using a simple linear filtering framework. Unfortunately, some numerical problems can arise when estimating the filter matrix in transients. In such a case, the speech correlation matrix is usually rank deficient, so that no solution exists. In this paper, we propose to implement the spatio-temporal-prediction method using a signal subspace approach. This allows for nullifying the noise subspace and processing only the noisy signal in the signal-plus-noise subspace. As a result, we are able to not only regularize the solution in transients but also to achieve higher attenuation of the residual noise. The experimental results also show that the signal subspace approach distorts speech less than the conventional method.