However, fear not as it’s definitely easy to differentiate these common office types from one another. The similarities, however, are quite general, as all these office types are designed and optimised for commercial purposes for period of time.
If a potential property buyer happens to flip through an entire brochure of units, he or she would be curious regarding the pricing of these office types like SoHo, SoFo and SoVo units. This is because they are usually higher in price than residential units. The owners of these office types would have to pay bills such as type of accommodation, unit assessment, water, electricity and telephone bills by themselves as they are all commercial titled. This contributes to the high price of these units.
SoHo、SoFo 和 SoVo 单位之间的相似之处
If a potential property buyer happens to flip through an entire brochure of units, he or she would be curious regarding the pricing of the office types available. This is because they are usually higher in price than residential units. The owners of these units would have to pay bills such as office unit assessment, water, electricity and telephone bills by themselves as they are all commercial titled, This contributes to the high price of these units.
All these office types are generally located in hotspots in the city areas, often dubbed as the booming centres for businesses. This means that these properties are located in areas where access to public transportation and amenities such as shopping malls are within a stone’s throw away. The style and comfort that these units provide would be a distinction between normal shop lots and SoHo, SoFo and SoVo units.
Differences between these office types
While SoHo units are protected by the Housing Development Act (HDA), due to the presence of the standard Sales and Purchase Agreement (SPA), it should be noted that SoFo and SoVo units don’t have this form of protection. This would be a call for concern as a potential buyer — with the non-existence of a standard SPA for them.
The importance of a HDA might not be highlighted by most people and a huge majority might not even be aware of it. In reality, it should definitely be brought to everyone’s attention. Below are some of the importance a HDA holds:
SoHo units are known for their flexibility in being used as either basic types; offices or homes. Hence, it’s an acronym for small office, home office. A SoHo unit allows the owner to integrate a good work-life balance. Therefore, most young singles, newly-weds and start-up owners would opt for these types of office types.
SoHo units might not work for everyone. It’s not a one size fits all concept, nevertheless. Before investing in a SoHo unit, a potential buyer should analyse his or her needs and invest in a property that would be in line with their needs and wants. In general, SoHo units might come in handy for a few groups of individuals who:
Since these units are considered commercial units, the Developer Interest Bearing Scheme is readily available for to interested buyers. This would allow buyers to pay 10% of the price until the completion of the project. Owners of the units have to pay the water, electricity, telephone as assessment bills based on commercial rates. This would be higher than the rate for residential properties.
Various office types could provide different levels of comfort albeit, having similar properties to one another. Be it one of these office types: SoVo, SoFo or SoHo units, the most important aspect in the quest of finding a good unit for one’s next business is always its practicality and convenience. As aforementioned, it’s not a one size fits all concept.
In fact, office types similar to residential properties, location, accessibility, pricing and the level of comfort should also be considered prior to buying properties as such. Apart from that, some prospective buyers might not prefer these office units due to the location of these units. Since a majority of these units are located in bustling cities, peace and serenity might be difficult to obtain.
The existence of traffic jams would definitely add to the hustle and bustle of city life. Nevertheless, when it comes to office types units, one might have to set aside comfort to ensure that large access to facilities and amenities in the midst of a prime location such as the city, could be achieved.