New coworking space deals in selected cities in Europe 2018

Flexible office space, also referred to as coworking space or shared office space, refers to commercial office space that allows short-term leases to individuals, freelancers, small and medium enterprises, and other professionals. In contrast to traditional offices, flexible offices provide equipped and serviced office premises without long-term rent commitment. Multiple factors influence the increasing demand for flexible office space.

Flexible office space deals

In 2018, real estate investors and developers in London and Paris made deals for almost 182 and 118 thousand square meters of flexible workspaces. The global coworking giant WeWork played a major role on the flexible workspace market in Central London with deals exceeding 62.4 thousand square meters. One of the biggest deals outside of London was also a leasing by WeWork.

Demand for flex space

Based on their economic growth, job creation, innovation, and property market fundamentals, 19 European cities have been identified as flexible workspaces hotspots for 2019 and 2020, with London heading the ranking, followed by Paris and Berlin.