Hong Kong is one of the wealthiest economies in the world. The city has more millionaires on average than any other place in the world, and professionals are, purportedly, among the hardest working in the world with many working in excess of the standard eight-hour day. This unparalleled work ethic has created a world-class city that has influenced the world economy.
However, working in one of the most dynamic cities in the world can be problematic if yours is a small business searching for office space in one of the most expensive commercial real estate markets. Worse yet, the closer you get to any of the financial business centres the rents skyrocket and potentially shut out those without the means to occupy office space in places like the Central District. Fortunately, Servcorp serviced offices in Hong Kong and other major serviced office providers can fit out your business in places like the Central District or Kowloon.
Keep reading to find out how best to navigate your way around finding office space in Hong Kong.
Hong Kong’s Commercial Real Estate Market
Finding space to work out of is difficult in Hong Kong primarily because the city is densely packed with a population of somewhere around 7 million. With so many businesses, the city has little space and finding office space is very difficult. As stated previously, many of the office rents in the more prestigious areas are extremely high making finding office space even more difficult. In fact, as of July of this year, office space in the highly sought after Central District costs more than $306 per square meter, which is higher than London’s West End.
Hong Kong is the financial centre of the Asia market, as it is host to a number of financial and technology conglomerates. Conversely, it is also host to a number of start-ups and SMEs that are simply priced out of having access to valuable office space simply because it is so expensive to lease in these areas. For this reason, the serviced office provider can be a solution to finding office space in a city that can be a place of opportunity.
Alternatives To Pricey Office Space
For average business owners, serviced offices can do a lot for your business in Hong Kong. With coworking spaces and virtual offices becoming very popular with businesses short on cash but with a lot potential, you can find yourself with a physical address in the Central District that gives you access to all of the amenities found in the standard workspace. Coworking, for one, goes beyond just providing your business with office space by offering comfortable workspace that primes professionals with the type of social interaction and networking that builds businesses. Your virtual office, alternatively, allows you access to the finest IT services while providing your business with a dedicated address and phone number.
For businesses who want the traditional office without the hefty price tag, the standard serviced office and the executive suite can provide your business workspace in Hong Kong’s Central District. Both office plans give you access to a furnished office and the amenities that go along with traditional office space. Furthermore, these offices require little-to-no downtime in leasing and orchestrating the move.
Navigating Kong Kong
Finding office space in Hong Kong does not have to be difficult, especially when there are reasonable options available to your business. All of the above offices give your business space in a great location while providing them with the tools needed to work efficiently. More importantly, these offices can provide you with access to people and resources found in prestigious business districts.