Many businesses are approaching co-working with competitive rents to adapt to the period of living with the pandemic.
Savills’ Affordable Workspace Trends report said that the co-working model (shared office, flexible workspace) is one of the solutions being sought by the business community. with affordable rent to save costs, adapt to the goal of both anti-epidemic and economic development.
According to this unit, Vietnam is one of the top 20 countries in the world in terms of the number of co-working service providers, accounting for 1.2% of this supply globally. The demand for co-working is also driven by the growth in the number of small and medium-sized businesses, plus the healthy start-up environment.
Demand for co-working space has also increased during the pandemic, when many businesses face increased financial pressure. In Hanoi and Ho Chi Minh City, co-working spaces offer a variety of rental options and packages, from desk rentals for around $117 a month to private office rentals for around $153 a month.
In addition, co-working offices often do not have strict regulations on the rental period, so many businesses feel this is a more economical option than renting a traditional office.
Troy Griffths, Deputy General Director of Savills Vietnam, said that some startups and small and medium-sized businesses are tending not to prioritize the traditional office model. The traditional office market may face a number of challenges as the lockdown extends longer or enters a phase of living with a pandemic.
According to Mr. Troy, in the past, co-working was considered an office environment specializing in serving small-scale startups. Many coworking spaces in Vietnam provide a supportive environment for business incubation, allowing startups to exchange and share innovative ideas. From a social perspective, Vietnam is the leading country in terms of the number of cafes per capita, so alternative flexible office models may be the right choice.
However, in the period of living with the epidemic, the shared office is also gradually meeting the needs of larger businesses when the hybrid office model, combining remote working and working some days at the office. gradually popularized.
Demand for affordable workspaces is growing in major global cities, including Ho Chi Minh City and Hanoi. To meet the demand for competitively priced workspace, co-working investors can take advantage of the opportunity by renovating old buildings, this is a way to supplement the office supply quickly. sustainable and cost-effective way.