Spotting the opportunities: flexible space in Asia Pacific
What’s different about Asia Pacific?
Asia Pacific has some unique characteristics that will differentiate the evolution of flexible space in the region from the rest of the world.
Government intervention and policy
Many governments in Asia Pacific are helping create a market for flexible space by encouraging entrepreneurism. They are also supporting and developing flexible spaces.
Concentration of holdings
In some Asia Pacific markets a handful of landlords dominate the market. This gives property owners much more influence on the development of the flexible space sector.
Shorter lease terms
Flexible space is more attractive in markets here lease terms are long. With lease terms around three years in the region, flexible space is relatively less attractive than EMEA and the US. Tokyo and Australian cities are exceptions.
Cultural and workplace norms
With a more hierarchical corporate culture, there could be a slower transition toward the more casual flexible space models.
Space as a service
In addition to offering physical spaces, operators will increasingly move towards including built in technology solutions and community benefits as a service.
This will deliver a full range of services across the property life cycle, from fit out and construction to workplace strategy.
This report examines the evolution and future of flexible space in the Asia Pacific region.