A new report by real estate consultancy firm Knight Frank has found that Manila has the fourth-cheapest prime office occupancy cost in Asia-Pacific. The report, which compared the occupancy costs for office space across 80 leading markets, found that Manila’s occupancy costs amounted to $33.39 per square foot (sq. ft.) a year. This makes Manila more affordable than other major Asian cities such as Hong Kong, Singapore, and Tokyo.
This is good news for the Philippine real estate market. Affordable office space can attract businesses to set up shops in Manila, which can boost economic growth. It can also benefit local businesses, as they will be able to save money on rent.
There are a few ways that businesses can take advantage of Manila’s affordable office space. One way is to lease office space in a prime location. This will give businesses access to a pool of talented workers and a vibrant business environment. Another way to take advantage of Manila’s affordable office space is to lease office space in a less central location. This can save businesses money on rent, while still giving them access to a good transportation network.
Overall, Manila’s affordable office space is a boon for the Philippine real estate market. It can attract businesses to set up shop in Manila, boost economic growth, and benefit local businesses.
Here are some additional tips on how businesses can take advantage of Manila’s affordable office space:
- Do your research. Before you sign a lease, be sure to compare the prices of office space in different locations. You can use online tools like Knight Frank’s Global Occupier Market Dashboard to get an idea of the market rates.
- Negotiate. Don’t be afraid to negotiate with the landlord to get a better price. You may be able to get a discount if you sign a long-term lease or if you agree to take on some of the building’s maintenance costs.
- Consider shared office space. If you’re a small business, you may want to consider shared office space. This is a cost-effective way to get access to office space without having to commit to a long-term lease.
Manila’s affordable office space is a great asset for the Philippine real estate market. By following these tips, businesses can take advantage of this opportunity and save money on rent.
U-Property PH 
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