The impact of co-working office space on traditional office building renting in the Greater Bay Area : a mixed-methods study

Abstract

In the dynamic landscape of contemporary workspaces, the interplay between co-working spaces and traditional leasing offices within the expansive canvas of the Greater Bay Area has emerged as a nuanced and multifaceted phenomenon. This dissertation undertakes a meticulous exploration of this intricate relationship, unraveling its dimensions and implications. Through an integrated research approach encompassing qualitative and quantitative methodologies, this study embarks on a comprehensive journey to decipher the profiles, preferences, and motivations of users engaging with co-working spaces. The evolutionary trajectory of co-working space development within this expansive context is unwound, providing nuanced insights into its progression. In parallel, the study delves into the complex dynamics and interactions between the co-working space phenomenon and the entrenched practices of traditional office leasing, with Hong Kong as a focal point of investigation. The findings illuminate a realm characterized by intricate dynamics. The co-working spaces' impact on the traditional leasing office landscape emerges as a symbiotic evolution, with co-working spaces playing a pivotal role in eliminating vacant spaces within traditional setups. Interestingly, the decision to opt for co-working spaces often hinges on financial considerations, reflective of the economic context within the Greater Bay Area. A comparative exploration reveals that co-working spaces in mainland cities exhibit greater flexibility and vigor, underscoring the role of regional nuances. The phenomenon of collaboration versus competition surfaces as a central theme, reflecting the intersection of cultural dynamics and business ethos. As a culmination, this dissertation contributes strategic recommendations aimed at refining market strategies for both co-working space operators and traditional office leasing entities. The findings provide a robust framework for industry participants to navigate this dynamic landscape, ensuring resonance with user preferences and strategic alignment. However, while the study delves deeply into this complex ecosystem, it also underscores certain limitations and areas ripe for future exploration. The dissertation beckons to a horizon of possibilities, advocating for continued scholarly exploration to enrich our understanding of this transformative paradigm within the Greater Bay Area's expansive workspace realm.