Latest Office Rental Trends in Hong Kong 2019

Among the redeveloped districts such as Kwun Tong and Lai Chi Kok, one can see the omnipresence of industrial and commercial buildings, as well as numerous office rental advertisements made by real estate agents or individuals.  As more young entrepreneurs are establishing their new businesses these days, there is a rising need for flexible office rental services from SMEs and start-up companies, in addition to the existing traditional offices for monthly rental. 

In fact, since 2017 until now, there have been 2229 newly established start-up companies, of which specializing in various industries from information technology to e-commerce and logistics, etc. At the same time, the government has executed new policies and measures favouring start-up companies including $50 billion of funding allocated by the Innovation and Technology Bureau to support the development of local innovation and technology. The funding and favourable measures have become significant sources of financial support for these newly established companies, especially regarding the rental of their office space. Therefore, these aspiring start-up entrepreneurs are becoming a stable demand for office rental services.

To these aspiring young entrepreneurs who prefer flexibility and innovation, traditional office may seem too restrictive and dull. In order to attract them, you might as well take references from the emerging multi-functional co-working/studying space, which combines office area, meeting rooms, studying area and café into one place. These new office spaces, that you can find in commercial hubs such as Mong Kok and Causeway Bay, are stylishly designed to become a lively and human-oriented working environment, equipped with personalized magemenet and flexible contract arrangements. 

This flexible business model brings on a unique trend for an unconventional, highly flexible and interactive working environment that young entrepreneurs need today, turning them into potential customers who wish to base their new business here. 

Therefore, if you are one of those still posting advertisements on the street for rental your office, it might be a good investment to transform your property into an open co-working space and to adjust the service model.



Submit a Comment

Your email address will not be published. Required fields are marked *