Coworking space: Strong explosion

According to CBRE's statistics in 2017, the coworking space model in the world is developing at an average speed of 53% per year, in Vietnam is 58%. This figure is expected to increase sharply in 2018 when the average occupancy rate for coworking spaces is over 60%.

.Apart from CBRE Vietnam, as of 04/2018, there are total of 19 common workspaces in Hanoi and 15 work spaces in HCMC from 23 executive units - of which 2 come from abroad. As a result, the overall workspace has increased 62% and recorded an average growth rate of 55% over the past five years.

Savills Vietnam noted that by the end of Second Quarter of 2018, there were 43 co-working space projects in Hanoi, with the density concentrated in the inner city and the city center. Do Thi Thu Hang - Director of Savills Research, Hanoi explains: "This model is competing very strongly because of the flexible leasing mechanism from leasing policy: hourly, by day, month. Besides, there are very convenient services". Hoan Kiem District is leading the market in Hanoi on the pace of development of this model if the rent per month," Savills said.

For small businesses, start-ups, coworking are cost-effective solutions than traditional office space because rental space is often much larger than their needs. These firms have previously opted for an office apartment complex, but recently the ban on apartment-based businesses has been stricter, creating a greater demand for the coworking space segment.

For freelancers, unlike working in a traditional office or home office, coworking models allow them the option of working independently in private space or chatting, exchanging and dividing. share ideas with others

By the end of 2018, CBRE forecasts that Hanoi and Ho Chi Minh City will account for 56% and 44% of the total supply of 45 common workspaces in the country.

It is predicted that the coworking space market will become the "playground" of new bright spots in the common space model in the near future.

Văn phòng truyền thống gặp áp lực cạnh tranh khốc liệt từ mô hình làm việc chung coworking space

Traditional office for lease: Scarcie supply

While the supply of co-working space is booming, new office supplies are scarce. CBRE's statistics show that in the first half of 2018, no new Grade A and B office projects came into operation in Hanoi. In urban districts, Grade A office buildings have been fully occupied, such as ConnerStone (Hoan Kiem District), reaching 100%, TNR Nguyen Chi Thanh (Dong Da District) reaching over 90%.

CBRE also said that in the Ho Chi Minh City market, in the second quarter of 2018, this market recorded no new office supply. Total Grade A office supply remained unchanged at 382,763 square meters NLA.

Compared to the previous quarter and the previous year, asking prices for Grade A and Grade B offices were up. In the past year, office space in new buildings has been rapidly absorbed by the market. Vacancy rates for both A and B are below 5%.

Savills also reported that office rents rose 2% quarter-on-quarter and 7% year-on-year, with average occupancy at 96%. Given the extremely low vacancy rate and the lack of new supply, Grade A and B office rents will continue to increase in the coming time.

Bui Nguyen Huyen Trang, Vietnam's market director for JLL, said: "Despite intense competition in demand for coworking sapce, traditional office rents are not affected by this. are two different models."

According to experts, the customer is the decisive factor. Large corporations with clear human resource structures still need a traditional office model. In contrast to smaller businesses, small start-ups, or freelance workers, there is a need for a common work space. "But there will also be big companies that want to change the way they work, and the working environment should choose coworking space or something like that," Trang said.

As such, the race for market share of traditional office leasing will certainly be a big hit. In the future, this competition is even more fierce as the supply of traditional office space is scarcie, and the coworking space is booming.

Trúc Mai

Nguồn báo: thuonghieucongluan.com.vn