It is better to buy or rent an office premises? What are the criteria to evaluate this rent or buy decision?

I think it is advisable to rent a office. Buying an office premises will incurred additional overhead cost like maintenance. The key criteria to evaluate on either buying or renting depends on what type of business you are in, what is your long term goal, no of staff and most importantly the financial condition of your company etc. When you have review all these condition you should be able to decide which is the better choice for you.

If you cannot figure this out, then you should do neither! How should we know what your particular situation is? If you buy, then you would have to buy the entire building in which the office unit is located. Geesh!

You have to assess how long your business could last. If it surpasses the time for you to own the premises, then buy it. Some installments could even be lower than your monthly rental rates and you'll own the property eventually.

If your business is too volatile or high risk, renting is your best option.

RENT.