Traditional or serviced office space?

A Serviced Office may be a good option for startup companies, short-term projects or as an entry point into a new geographical market. Serviced offices are ready to go instantly and lease commitment can be as short as 1 month. This flexibility is an important factor with volatile office markets like Hong Kong. Rents may vary significantly over 12 months.

Why not just sign a traditional office lease?

In Hong Kong a typical office lease will run for a fixed term of 2 or 3 years. During the lease term, a tenant will generally not have the option to cancel the lease without penalties. If you sign a lease today for 3 years you are paying the market rent today for the next 3 years regardless of what happens to office rents during that time.

Cost comparison of traditional office vs serviced office

The table below outlines the key differences between a traditional office lease and a serviced office agreement. The key differences are the quick startup time for a serviced office and lower upfront costs for fitout and deposit.