Flexible workspaces are experiencing a huge boom in the real estate sector thanks to numerous factors.
First, digitalization has allowed people to work from virtually anywhere through their smartphones and cloud software storage.
Flexibility has also grown across the workforce as it cuts commute times and improves the work-life balance that many workers seek today. Now, research has found that almost a third of U.K. workers value flexible working over having a prestigious role.
This shift in workplace expectations has allowed companies to hire employees that will likely be more productive. Younger generations have also led the demand for a healthy workplace community and not dealing with long commutes.
Accountancy regulation IFRS 16 has also shaped the real estate industry as it requires companies to measure, present and disclose leases. This has allowed flexible workspaces to become the ideal solution for mid-sized and larger companies.