Japan, India, and South Korea are Poised to Experience the Most Flexible Workspace Growth
A recent report found that supply and demand of flexible workspaces increased by 16% and 19% respectively around the world. Flexible workspaces are expected to account for 10% of total office stock in certain markets by 2024.
While Japan, India, and South Korea are poised to experience the most growth, America remains the most stable flexible workspace market. In Europe, the Brexit vote has impacted the flexible workspace industry, especially Frankfurt, Dublin, Paris, and Berlin which have experienced exponential growth over the psat year. London, for its part, hasn’t been negatively impacted by the Brexit vote, however pricing in the market has been impacted by an increase in supply.
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Flexible workspace demand is being driven by larger businesses and corporations that require over 10 desks. These clients now represent approximately 20% of total flexible workspace demand. In the future, experts expect the industry to grow outside of CBD areas and into Tier 2 cities.
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