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Number of flex office centers APAC 2018-2019 by city

Hong Kong led the newly developing trend in the Asia Pacific region and had almost four hundred flexible workspace centers in 2019. Although the likes of Shanghai, Singapore, and Tokyo all boasted a high number of flexible workspace centers, none of these megacities compared to Hong Kong.

Cutting costs

Flexible workspaces have become attractive to many companies across the Asia Pacific region due to their pricing being much lower than that of traditional office spaces. In cities such as Hong Kong and Tokyo (renowned for their expensive real estate market), flexible workspaces have emerged as an economical alternative to traditional offices.

The rise of flexible workspace

Asia Pacific has been a region which has experienced monumental change and transition throughout the past few decades. Increased digitalization and industrialization have catalyzed the emergence of new economies. Alongside the development of such economies throughout Asia Pacific, naturally the region has experienced a surge in entrepreneurial spirit, with more citizens opting to start their own businesses. Startup culture has thrived across the region and as such, has fueled the need for more office space. As startups are considered to be relatively new businesses, more often than not the newly founded companies are hesitant to sign long-term rental agreements to lease office space. This has resulted in a huge demand for flexible office space. Leading flexible workspace operators in Asia Pacific have responded to this growing demand and thus, have secured their position within the flexible workspace market.

Leading cities providing flexible office spaces across the Asia Pacific region from 2018 to 2019, by number of centers

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Source

Release date

July 2020

Region

APAC

Survey time period

2018 to 2019

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Statistics on "Flexible workspace in Asia Pacific"

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