Share of flexible office space stock in selected cities in Europe H1 2020

With approximately five percent of the office stock in a big market like London City offered as flexible workspace as of the first half of 2020, it's obvious that the coworking phenomenon, along with the changes it brings to the real estate market, is not to be underestimated. 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, such as economic growth, job creation, innovation and property market fundamentals.