The workplace culture has changed dramatically since the pandemic, with the rise of remote and hybrid work models. But are working from home or coffee shops truly effective? Feelings of isolation, a lack of professionalism, and unwanted distractions are common hurdles that many people face. This is where a more strategic, flexible, and dynamic solution comes into play: the coworking space model.
In this article, ATZ LUXURY provides a comprehensive overview of what a coworking space is, covering various service types, outstanding benefits, ideal target audiences, and practical tips on choosing the perfect workspace for you and your business in Vietnam.
What is a coworking space?
A coworking space (also known as a shared workspace or shared office) is an office model where individuals and businesses can rent workspaces by the hour, day, or month. However, it is much more than just a place to work. It is a purposefully built ecosystem where members can network, share knowledge, and collaborate. More importantly, it has become an essential tool for business agility amidst economic uncertainty, serving as an indispensable component of modern commercial real estate (CRE) strategies.
The global boom of the coworking model
Coworking is no longer a novel concept; it has become an integral part of the global commercial real estate market. These numbers do not merely show straightforward growth; they demonstrate the shift of coworking from a “trendy” option for freelancers into a strategic pillar within global commercial real estate portfolios.
- Number of spaces: Skyrocketed from around 8,900 in 2015 to more than 42,000 worldwide today.
- Number of members: From ~545,000 in 2015, this figure is projected to reach approximately 5.5 to 6 million by 2025.
- Future outlook: Real estate advisory firm JLL forecasts that 30% of all global office space will be flexible workspace by 2030.
Introduced in Vietnam in 2006, this model is developing rapidly. The market is projected to maintain a steady growth rate of 15–20% per year between 2025 and 2030, highlighting massive potential and a strong alignment with the modern working trends of Vietnamese professionals.
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5 outstanding benefits of the coworking space model
Choosing a coworking space offers numerous practical benefits for users. Let’s take a look at these incredible advantages:
Exceptional cost optimization
The greatest advantage of a coworking space is financial efficiency. Businesses do not need to invest a large upfront capital to lease premises, carry out renovations, or purchase furniture and office equipment. This helps convert heavy capital expenditure (CapEx) into predictable operating expenses (OpEx), significantly improving cash flow for startups and SMEs. All monthly operating costs—such as electricity, water, internet, receptionist services, and cleaning—are bundled into a single package fee.
Maximum flexibility
This model offers a level of flexibility that traditional offices simply cannot match. You can choose monthly, quarterly, or annual contracts, easily scaling up your team as you grow or scaling down when necessary. This flexibility helps businesses adapt swiftly to market fluctuations without being tied down by long-term commitments.
Community building and networking
A coworking space is not just a place to work; it is a vibrant community. Networking events, workshops, and chance conversations in common areas create countless opportunities to meet talented professionals, potential partners, or even investors. This environment naturally fosters collaboration and knowledge-sharing.
Professional amenity ecosystem
When renting a coworking space, you gain immediate access to a complete and professional ecosystem of amenities. From high-speed internet, modern meeting rooms, and print/scan facilities to a pantry stocked with complimentary tea and coffee, alongside front desk and IT support teams ready to assist. Everything is prepared so you can focus entirely on your core business.
An inspiring work environment
Coworking spaces are typically designed to be creative, modern, and comfortable. A visually appealing, energetic workspace not only boosts creativity and productivity but also improves employee well-being and job satisfaction. As noted in a workplace design case study, one operator emphasized:
Who is a coworking space for? 4 most suitable target groups
The coworking space model caters to a wide variety of users, but is particularly ideal for the following 4 groups:
Freelancers and independent professionals
For freelancers, working from home can lead to isolation and a lack of a professional environment. Coworking spaces offer a perfect solution, helping them escape monotony, providing a quiet space to focus, and opening up opportunities to connect with a community of peers within or outside their industry. It’s an ideal place to find potential clients, partners, and expand your professional network.
Startups and small-to-medium enterprises (SMEs)
Cost is one of the biggest challenges for startups and SMEs. Coworking spaces solve this problem by eliminating the burden of initial infrastructure investment. Businesses can start working immediately in a professional office at a reasonable cost. More importantly, the model’s flexibility allows them to easily increase or decrease desk counts as team sizes fluctuate—a vital factor during early-stage development.
Large enterprises and remote teams
In the era of hybrid work, large corporations increasingly leverage coworking spaces to establish satellite offices or workspaces for short-term project teams. Statistics show that up to 55% of global corporations currently utilize flexible workspace solutions. This helps enterprises reduce real estate costs, increase agility, and provide employees with a modern, convenient work environment close to where they live, as highlighted in a Forbes article.
Foreign enterprises entering the market
When a foreign company wants to enter the Vietnamese market, setting up a traditional office requires considerable time and complex procedures. Coworking spaces offer a “plug-and-play” solution, granting them an immediate legal business address to jumpstart operations quickly. More importantly, this model addresses a major legal hurdle: providing a legitimate, verifiable business address that complies with the 2020 Enterprise Law. Many leading providers in Vietnam now offer “One Stop Service” (OSS) ecosystems, integrating legal, accounting, and tax support services to help FDI enterprises minimize administrative barriers when entering the market.
Explore the most popular coworking space models today
The coworking market is exceptionally diverse to cater to different needs. Understanding each model will help you find the optimal choice.
Hot Desk
This is the most basic and economical option. Users can sit at any available desk within the common area. This model is best suited for freelancers, digital nomads, or anyone who only occasionally needs a professional workspace.
Dedicated Desk
With this model, you get your own assigned, fixed desk within a shared space. You can leave your computer, monitor, and personal belongings behind without having to pack up every day. This is an ideal choice for individuals or small startups seeking stability and a familiar workspace.
Private Office
This is a separate, lockable, fully furnished space tailored for teams of 5 to 20 people. Businesses gain the necessary privacy and security while still enjoying all the amenities and community atmosphere of a coworking space.
Virtual Office
This service provides essential administrative elements for a business without requiring physical space, including a prestigious business registration address, receptionist services for answering calls, and mail handling. Virtual offices are extremely useful for fully remote companies or foreign businesses looking to test the market. Learn more about this model in our article on what a virtual office is.
Niche Coworking
This is a growing trend featuring spaces tailored specifically for a particular industry. For example, Tech Hubs feature robust tech infrastructure, creative spaces for artists include studios and galleries, and medical coworking provides clinics for healthcare professionals. The core value of this model is fostering deep connections and a homogeneous environment where professional exchanges happen naturally, driving collaboration and problem-solving more effectively than multidisciplinary spaces.
Premium Coworking
This segment targets large corporations or high-end entrepreneurs, featuring luxury interior design, 5-star standard services, and exclusive amenities such as gyms, meditation rooms, bars, or scenic rooftop terraces.
(Bonus) Models of the future
- Co-living & Co-working: A breakthrough model combining living and working spaces within the same building, blurring the lines between work and life, which is particularly attractive to young people and digital nomads.
- Hybrid Coworking: Rather than a physical space type, this is a strategy adopted by large corporations. Instead of maintaining a massive headquarters, companies purchase membership packages or flexible offices from coworking providers to serve as satellite hubs for employees, optimizing costs and boosting flexibility.
- Virtual Coworking Space: A non-physical model utilizing digital platforms like Discord or Gather.Town to simulate an online shared office. It helps globally distributed remote teams feel connected and accompanied as if sitting right next to each other, fostering company culture without physical boundaries.
Quick comparison: Coworking space vs. Traditional office
To grasp the core differences, let’s review a visual comparison table between these two office models.
| Criteria | Coworking Space | Traditional Office |
| Upfront cost | Low. No initial investment needed for furniture, equipment, or infrastructure. | High. Includes security deposits (3–6 months), fit-out, and furniture purchases. |
| Lease term | Very flexible. Daily, monthly, or quarterly. Easily adjustable. | Long-term. Contract commitments typically range from 2 to 5 years. |
| Flexibility | Extremely high. Easily scale desk count up or down based on team size. | Low. Fixed floor space, hard to change before the lease expires. |
| Amenities & Services | All-inclusive. Internet, reception, pantry, meeting rooms, and cleaning are provided. | Self-managed. Must hire operational staff and cover incidental costs independently. |
| Environment | Dynamic. Open, community-driven, with high collaboration opportunities. | Professional. Private, focused on corporate identity. |
| Privacy | Moderate. Depends on the service package (hot desk vs. private office). | Very high. Full control and space security. |
| Target audience | Freelancers, Startups, SMEs, Foreign enterprises testing the market. | Large enterprises and corporations requiring maximum stability and security. |
“Golden” tips when renting a coworking space in Vietnam
To choose the right space, you should carefully consider the following factors:
- Location and Accessibility: A central location that makes commuting convenient is a top priority. Consider not just convenience for staff, but also proximity to key clients, industry hubs, and public transit to boost your business ecosystem.
- Community Culture: Every coworking space has its own culture and community. Visit and get a feel for whether the atmosphere aligns with your company culture—whether it’s dynamic and creative, or quiet and professional.
- Facilities and Amenities: Thoroughly inspect the quality of essential amenities such as internet speed, meeting room availability, common areas, and office equipment to ensure they meet your workflow needs.
- Cost and Surcharges: Clarify all costs in the contract. Ask about potential surcharges such as excess meeting room usage, printing fees, or parking fees to avoid unexpected expenses.
- Legal Validity of the Contract: This is a critical factor, especially in the Vietnamese market. According to the 2020 Enterprise Law, the business registration address must be a valid contact address. The biggest risk is that without a clear contract and professional mail-handling procedures, tax authorities may flag the business as “inactive at the registered address,” leading to serious legal complications. Ensure the provider offers a transparent lease contract, can issue valid VAT invoices, and maintains professional mail and correspondence handling procedures.
Reputable coworking space brands in Vietnam
Below are some reputable coworking spaces in Vietnam, focusing particularly on the two major cities: Hanoi and Ho Chi Minh City.
Coworking spaces in Hanoi
Toong Coworking
- Address: Multiple branches including Phan Boi Chau, Trang Thi, and Hoang Dao Thuy.
- Features: Modern spaces with creative designs, suitable for both individuals and businesses.
Cogo Coworking Space
- Address: Floors 5-6-9-10, 174 Thai Ha, Dong Da.
- Features: Luxurious, elegant design featuring open spaces that optimize focus.
eSpace Coworking
- Address: 3rd Floor, Savina Building, 1 Dinh Le, Hoan Kiem.
- Features: Encourages collaboration and connection among members within a friendly environment.
UPGen Coworking Space
- Address: 4th Floor, T2 Tower, Times Tower, 35 Le Van Luong.
- Features: Offers flexible workspaces with diverse amenities supporting startups.
iHouse Coworking
- Address: 101 Dao Tan.
- Features: Professional workspace equipped with diverse support services.
Coworking spaces in Ho Chi Minh City
Dreamplex
- Address: Multiple branches in District 1 and Thu Duc City.
- Features: Modern spaces fully equipped to support workflow.
WeWork
- Address: E. Town Central, 11 Doan Van Bo, District 4; Lim Tower 3, Nguyen Dinh Chieu, District 1.
- Features: Delivers optimal office solutions with advanced technology and professional support services.
Kairos Coworking Space
- Address: 87A District 1; Viettel Building, 15th Floor, District 10.
- Features: “Eco-friendly” design, creating a fresh and creative workspace.
Publik Office
- Address: 38A Nguyen Thi Dieu, District 3.
- Features: Unique architecture blending Eastern and Western styles for a comfortable and professional feel.
Moonlab Coworking Space
- Address: 1 Bis Nguyen Thi Minh Khai, District 1.
- Features: Creative workspace with great potential for young businesses.
Coworking is not just a trend; it’s a strategy
So, what is a coworking space? In a dynamic market like Vietnam, coworking is no longer just a trend—it is a strategic lever to optimize capital efficiency, enable foreign companies to enter the market swiftly, and provide the flexibility needed to attract and retain top talent in the hybrid work era. By offering flexibility, cost-efficiency, and a dynamic community, coworking spaces are helping businesses of all sizes become more agile and competitive.
Could your next workspace be a coworking space?
| Coworking spaces are a flexible solution for the present. But a strategically designed office is the foundation for long-term growth. ATZ LUXURY doesn’t just design workspaces; we build efficient, inspiring operating environments that reflect the true stature of your business. ???? Contact ATZ LUXURY today for expert advice on the ideal office model tailored to your growth strategy: from coworking and hybrid hubs to premium private offices. |
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