房地产可负担性：挑战与解决方案

IMPACTSTHE FUTURE OF GLOBAL REAL ESTATE How can cities foster innovation and attract talent whencosts and inflation are pushing young businesses to themargins? And how are cities addressing residentialaffordability and quality of life to draw such talent? Rising costs are impacting all aspects oflife in 2023 and the real estate sectoris no exception. It’s a troublingscenario for both commercial andresidential occupants.High inflation rates have clear knock-on flexible, imaginatively designed units in well-connected locations that will attract top talent.Covid-19 lockdowns generally reducedcompletions, setting back construction schedulesand causing supply-side material shortages.Savills Research shows that between 2019 and 2022, prime office rents increased across mostmajor global city centres, despite the disruptioncaused by the pandemic. Dubai tops the ranking,with rents up 25 per cent, followed by Berlin (23per cent), downtown New York (17 per cent) andthe West End of London (13 per cent).Small and medium-sized enterprises (SMEs) implications for businesses – smaller firms andstartups especially. As their operating costs rise,they are likely to find it harder to afford thecommercial spaces they seek in the locationsthey want, which may limit their ability to grow.These businesses’ most important asset is their workforce, which faces an acute shortage ofaffordable accommodation local to theirworkplace. This could pose challenges forrecruiting and retaining talent.At the same time, competition has been rising are again being hit hardest by this upward trend.In many cities, rising rents have rippledoutwards from the historical central businessdistricts, pushing up prices in the moreaffordable fringe areas. SMEs are being forcedfarther out into more remote districts and lessattractive buildings. for high-quality office space over recent years,pushing up rents. Demand continues to increaseas businesses of all sizes seek energy-efficient, The issue here is partly one of howto protect and nurture smallbusinesses. According to the WorldBank, SMEs account for about 90 percent of businesses and more than 50per cent of employment worldwide. COST DIFFERENCE BETWEEN TRADITIONALAND CO-WORKING SPACE Monthly co-working cost for 10 peopleMonthly net effective cost in traditional prime office for 10 peopleDifference between co-working and prime office Off-the-shelf solutionsPotential solutions are emerging. One is the rise of commercial co-workingspaces, which offer all-in packageswithout restrictive long leases. Giventhe costs of setting up and maintainingan office, these deals can work outsimpler and cheaper over time.To compare the cost of a co-working arrangement relative to the net effectivecost of a conventional prime office,Savills Research assumed a 10-personbusiness, operating across 16 key globalmarkets. The study found that a co-workingspace is 40 per cent cheaper on average,although there is considerable variationbetween locations. While co-workingcosts 63 per cent less than renting aprime office in Mumbai, the differentialis just 14 per cent in Sydney. Thecheapest cities for co-working includeMumbai, Madrid, Shanghai, Amsterdamand Los Angeles. New York and Londonare the most expensive. Cal Lee, Global Head of Workthereand Savills Flex Co-Head in the UK,notes that for companies starting out,any savings made on premises andchannelled into the business couldprove the difference between successand failure. the smallest start-ups. In these cases,public-sector funds are being usedalongside private investment in thecreation of start-up hubs. These offercheap rents and share resources amongsimilarly small-scale enterprises inconvenient locations. they only pay for the space they needand can afford, and are not burdenedby lengthy leases or high upfront costs. Incubators and acceleratorsSimilarly, university incubators support “For any mature office market hopingto have a strong base of start-up andscale-up businesses, it is imperativethere is a diverse range of spaceavailable from a price perspective.Co-working can be a very affordableroute for a young business and it is vitalfor any start-up ecosystem within acity,” Lee says. enterprises and start-ups driven by theuniversity community, helping to retainacademic talent.Corporate accelerators provide Beyond affordable rent, co-workingarrangements also bring people togetherto foster collaboration acrosscommunities, locally and within theirindustry sectors.The Factory Berlin project is a great mentorship, resources and fundingto early-stage businesses. For thecorporates supporting these initiatives,it’s a valuable chance to engage withinnovative start-ups and the talentthey attract.The 4,400 sq m JLABS @ Shanghai is example of how public and private-sector funding can make suchcommunities viable. Members canchoose from a variety of membershipplans, ranging from part-time desks tofull-time private offices. It means that Nurturing the start-upecosys