SOHO, SOFO and SOVO

Currently trending real estate jargons are SoHo, SoFo and SoVo. SoHo is small office/home office, SoFo is small office/flexible office and SoVo is small office/virtual office. Each is relatively quite similar but differs in terms of functionality.

SOHO

Small-office-home office? How does that work? Well in most cases, young singles, newly- weds and budding professionals take up SoHos for the convenience of being able to incorporate their living area with their work space. These strata-titled properties on commercial land can function as both a home and a workplace. In fact, their modest sizes are the result of a convergence of economic and lifestyle considerations. SoHos don’t need large floor areas thanks to clever interior designing innovations that allow much to be made from small spaces.

SOFO

Much like its name, SoFos are small units that offer owners greater flexibility in terms of how they decide to use their space –be it for residential or commercial purposes or both. Every unit is void of internal partitions and therefore provide the owners or occupants the flexibility to customise or to fit-out their units as they please. Owners can opt to buy two units side-by-side and erect an internal connection.

SOVO

SoVos are small offices that come fully equipped with telecommunication and infrastructural facilities that allow for immediate business start-ups. SoVos are commercial properties and thus the developer interest- bearing scheme (DIBS) is available to buyers, where they only need to pay 10% of the price until completion of the project. Owners of these units must be prepared that to pay assessment, water, and electricity and telephone bills based on commercial rates, which are generally higher than residential rates.