The demand for co-working and service office spaces is growing rapidly all over the world – including Asia Pacific. In Hong Kong and mainland China especially, the rising costs of renting traditional offices is showing a significant increase, causing more startups and growing businesses to opt for a more affordable alternative.
So what is the alternative? When businesses are looking for a commercial space that will also save them money in the long run, flexible office spaces and serviced offices are preferable to traditional leases. These are similar to traditional offices; however, the building is shared by multiple businesses – for example dividing up a floor for each purpose, resulting in lower costs for each tenant. Those setting up or expanding a business can choose a location that fits their needs and budget entirely, rather than putting themselves out of pocket by springing for a sole location. According to Colliers International, the global demand for flexible office space is likely to rise 63 percent in 2016, with a large percentage of this growth directed from Asia.
In China, it is the growth of the tech industry that has led to an increase in startups and in turn a demand for commercial premises. Beijing – China’s capital, is one of the country’s main markets for this type of office space, establishing the city as a hub for innovation and creativity. This growth has not gone unnoticed, as Colliers reports that the trend is starting to catch on in Hong Kong too, stating that startup companies in the city have fuelled this growth significantly. Serviced and flexible offices are also an ideal choice for the many multinational companies that come to do business in Asia Pacific. This option involves less commitment, lower price points and more freedom than taking the traditional route.
The Perks of Serviced Offices Serviced offices have more benefits than just their flexibility. Here are just a few! • Everything will be ready and waiting when you’re ready to move in. You won’t have lengthy connection waits or the need to have furniture and technology delivered. • Maintenance is included and taken care of within your monthly fee, so there’s no need to worry about extra expenses or staff. • You’ll get to enjoy professional administrative staff who are happy to answer phone calls and take messages for you. • Your phone lines, internet connectivity and anything else you need will be already set up for you to use. • You’ll know exactly how much you’re going to pay each month, allowing you to sensibly budget for the rest of each month.
Will you be taking part in this growing trend for flexible and serviced offices? If you’re looking for office space, feel free to Get in touch with Find Your Next Office to learn more about what a serviced office in Asia Pacific could do for you and your business today.