Costs for entrepreneurs wanting to launch a start-up are highest in London. That’s according to a new report by Knight Frank. For Bangkok, tech start-ups face the lowest real estate costs globally.
The UK real estate agent looked at the cost of leasing and fitting out 600 square feet (183 square metres) of office space in the tech and creative districts of the world’s leading cities.
The size represents enough work space for a budding business of four employees, with a small conference room.
- Of the 27 cities analysed including nine from Asia-Pacific, London tops the rankings as the city where tech start-ups face the highest real estate costs. This is followed by New York and San Francisco.
- Hong Kong, Beijing and Singapore are the only Asian cities in the top 10 chart. For a tech start-up setting up in these Asian cities, the rental costs would be over 40% less than London.
In London, this would cost US$66,706 per year – the highest of any creative district in the world.
The second most expensive place to launch a start-up is Brooklyn, New York, at $62,736, followed by San Francisco at $61,680.
In Bangkok the rental costs is estimated at $18132 per year in the Thonglor / Ekamai district, and as low as $6120 for co-working cost based on four desks in collaborative open plan environment.
The top six cities offering substantial cost savings in a co-working environment after Brisbane are all from Asia-Pacific: Beijing (74.1%), Bengaluru (72.0%), Kuala Lumpur (70%), Bangkok (66.2%), and Sydney (64.5%).
In fact, four of the top 10 most expensive cities are in the United States, with Boston in fifth place with $50,700 per 600sqft and Los Angeles in seventh with $47,124.
In Europe, Paris and Dublin join London in the top 10 priciest locations, with Paris in fourth place at $57,426 and Dublin in sixth at $47,345.
The most expensive cities in Asia were Hong Kong in eighth place, where leasing 600sqft of space would cost $40,488; Beijing, in ninth, would involve an outlay of $39,090 and Singapore, in tenth, $39,088.
- For tech start-ups opting for the co-working spaces based on a four-desk collaborative open plan environment, Brisbane offers the best cost savings, offering an astounding 79.4% discounts versus traditional office space.
- The top six cities offering substantial cost savings in a co-working environment after Brisbane are all from Asia-Pacific: Beijing (74.1%), Bengaluru (72.0%), Kuala Lumpur (70%), Bangkok (66.2%), and Sydney (64.5%).
- For Bangkok, tech start-ups face the lowest real estate costs globally, whether looking at traditional space or co-working space.
Start-ups are a key part of the innovation economy in areas that are struggling with slow growth. While about two thirds of small businesses don’t make it past 10 years, according to US figures, those that take off can change the way we live, from Uber to AirBnB.
Vietnam Loship secures investment from Skype co-founder
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.
Traveloka to launch financial services in Vietnam and Thailand
Traveloka, which says it has 40 million active monthly users, is developing “buy now, pay later” services for Vietnam and Thailand.
Thai Gaming Startups And Trends For 2021
Thailand is one of Southeast Asia’s most important markets for mobile games. There are about 531 Thai publishers on Google Play and about 1,684 Thai published games available for download on the store.
The name Thailand may not easily come to mind in any discourse on mobile or online gaming. However, with an estimated 27 million video gamers and projected revenue of $54m from online games in 2021, Thailand has positioned itself as a rising force in the gaming industry.
Subscribe via Email
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian,...
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage...
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US...
Will Thailand’s plan for quarantine-free tourism set a global trend?
According to the Tourism Authority of Thailand, the quarantine-exemption measures implemented in Phuket will be extended to five other key...
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will...
Southeast Asia remains a hot spot for plastic pollution
The use of plastics is deeply embedded in our daily lives, in everything from grocery bags and cutlery to water...