Coworking spaces are growing in popularity as more people work online and businesses look to cut costs on office space. Since 2011, coworking spaces have increased globally by roughly 700%.
Cambodia is also moving towards a coworking space culture. More people than ever before are coworking, and there are several reasons for this. In the coming time, the demand for coworking is predicted to increase, making it an excellent option as a real estate investment.
But investing in a foreign country without local assistance is risky, as the country’s laws and real estate investment requirements vary. If you’re planning for lucrative real estate investment deal in Cambodia, IPS Cambodia- the rewarded real estate agent in the country cna help you with the best property deals.
And for all the readers who are not much aware of the co-working culture and its growing returns in Cambodia, this blog will help you with the details.
Overview of Coworking Space-
Coworking, broadly defined, is when individuals gather in a neutral place to work alone on diverse projects or jointly on the same ones. It differs from a traditional office setting in that not everyone is employed by the same organisation.
The amenities found in a traditional office are all in coworking spaces and many more. Flexibility is a key differentiator for coworking spaces because no long-term obligations are involved.
Standard amenities like printers, WiFi, and typically some meeting area are available in every coworking space. Some also provide snacks, tea, and coffee. A few will give you access to initial resources like coaches, digital assets, and consultants.
Some coworking spaces offer access to the technology you don’t always have, such as 3D printers. Some affordable coworking spaces are simpler, with merely a desk and WiFi.
Why Are Co-Working Spaces Becoming So Popular In Cambodia?
- These coworking spaces might be helpful for independent workers like gig workers, freelancers, and small and medium-sized businesses (SMEs) that want a more friendly work environment.
- Corporate clients who choose coworking spaces over traditional offices report savings of up to 15 to 25%. A new office includes things like recruiting administrative employees, setting up IT infrastructure, establishing utilities, buying furniture, etc., so it saves time and a lot of money in addition to being more expensive.
- When a company grows, start-ups and small enterprises can save a lot of money by forgoing a physical location in favour of a coworking space.
- People working in this setting tend to be more energetic and upbeat, which might help you overcome your concerns and inspire you to defy any bad career trends.
- Coworking spaces bring together individuals with a variety of talents and professional experiences. Being a member of such an organisation allows you to network and communicate with people who can help your profession or business.
What are the Benefits of Investing in the Coworking Spaces?
Coworking spaces are now widespread, and this trend will only grow in the foreseeable future. In contrast to regular traditional workspaces, coworking provides a shared work culture and flexible and economic possibilities. Owning and investing in coworking spaces has many advantages, including.
- Comparing coworking spaces to typical office spaces, the return on investment is frequently higher.
- If you own a facility, coworking spaces can be an excellent source of rental income rather than renting it out to regular offices. You can expand the number of tenants you can bring in with higher rent by renting coworking spaces.
- Compared to traditional office spaces, coworking spaces provide a wider choice of leasing possibilities, drawing a variety of tenants.
- Coworking spaces help businesses save money by letting them hire or lease the desks and chairs they require rather than paying for a traditional location and handling its upkeep.
- Instead of being bound by lengthy lease agreements, these locations provide flexible lease agreements with shorter terms. Businesses can grow or shrink by their demands since they must pay for the area they occupy.
- Coworking spaces are flexible and provide more professional lease possibilities due to all these attributes.
- Coworking spaces can give your location a competitive edge by giving users all the amenities up front to put your space/properties ahead. Coworking spaces can be a very effective way to do this, providing you with a competitive advantage.
- As they provide their occupants with a wide range of conveniences and amenities, this can serve as a major draw for anyone looking for a place to live.
Giving land to coworking spaces has several benefits since they may help businesses get off to a solid start and generate a sizable amount of capital, which in turn helps a professional workforce work comfortably and productively. Additionally, leasing more times will assist in attracting additional tenants. It will also assist in attracting additional tenants with various leasing alternatives, giving the property a competitive edge and a head start in the market.
The worldwide trend itself has impacted the growth of coworking in Cambodia. Coworking in Cambodia is growing steadily and will do so in the future. The economic strategy is indeed exceptional, and the atmosphere created by the movement makes it much more alluring.
Coworking can improve the lives and benefits of both investors and employees. Investors might gain more from this investment than any other because it consistently gives them a sizable cash flow. It has the potential to be the most profitable investment of all.
If you’re looking for properties to set up a coworking space in Cambodia with 2x to 3x returns, IPS Cambodia’s local real estate agents can help you find the best deals. Schedule your property viewing appointment with the experts now to know more.