The demand for flexible workspace – including coworking and hybrid centers – isn’t cooling.
How strong is the demand for these spaces? the Instant Group, a provider of flexible workspaces, recently released its latest global flex market report studying the 18 cities across the globe, including Chicago, that had the greatest supply of flexible workspaces.
The study found that the demand from clients for flexible workspaces and the supply of these spaces both increased an average of 19 percent last year.
As the supply of flexible workspace centers increases the cost to rent a desk in these spaces is falling.
While demand for flexible office space is rising, coworking centers are still far from the norm.
The Instant Group said that in the 18 cities it studied, flexible space represents just 5 percent of their overall office space.
The Instant Group predicts that flexible space could take up from 30 percent to 40 percent of total office space in the next decade.