Today, over 250 coworking spaces operate across India, taking up nearly 8 million square feet of office space according to the Knight Frank’s July-December 2019 report ‘India Real Estate’.
The bi-annual report offers insight into the top cities office markets, including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR and Pune.
Of the eight cities, Bengaluru saw the highest volume of new office space at 16.1 million square feet, followed by Delhi-NCR at 12.3 million square feet.
Since 2017, space purchased for coworking offices has quadrupled with transaction volumes increasing by 5% in 2017, to 13% in 2019.
The report also finds that the office market did well, particularly in 2019, but that residential sector remained slow.