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Sweden’s Coworking Market Set To Double In Five Years

Sweden’s coworking spaces are hitting a turning point, as supply is shrinking while demand is growing, signaling big changes for the future.

Emma AscottbyEmma Ascott
May 8, 2025
in Coworking
Reading Time: 3 mins read
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Sweden’s Coworking Market Set To Double In Five Years

In Stockholm, coworking space revenue jumped by over 10% in 2023, reaching SEK 3.1 billion (about $321 million USD).

  • Sweden’s coworking space supply has dropped for the first time in years, as operators focus on profitability over expansion.
  • Stockholm sees 10% revenue growth in coworking spaces, but high costs and competition challenge profitability.
  • Coworking’s share of Sweden’s office market is set to double in five years, driven by growing demand for flexible workspaces.

Over the past five years, coworking space supply in Sweden has surged, with Stockholm, Gothenburg, and Malmö now home to a growing number of flexible office spaces, according to a recent market report from yta.se.

Daniel Olsson, CMO at yta.se, told Allwork.Space that “After years of rapid expansion where Sweden’s coworking market has seen a 20% increase in revenue YoY, we’ve now entered a new phase. For the first time ever, we’re seeing a net decline in coworking supply, not because demand is falling, but because operators are prioritizing profitability and sustainable growth over expansion at all costs.”

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In Stockholm, coworking spaces now account for nearly 4% of total office space, with 7% of office space in central districts alone. This marks a strong indication of growing demand for flexible workspaces in prime locations, especially as businesses are increasingly seeking adaptable options due to economic uncertainty.

In Stockholm, coworking space revenue jumped by over 10% in 2023, reaching SEK 3.1 billion (about $321 million USD). Despite this growth in revenue, profitability remains challenging. Operating costs, including staffing, technology, and amenities, continue to pressure margins, while competition heats up between coworking brands and traditional landlords offering shorter lease options and flexible services. 

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“Interestingly, our data from 2022 to 2023 shows a clear shift toward improved margins among operators. We’re seeing more discipline in pricing, more strategic location planning, and a move away from the ‘land grab’ mentality that defined the years before and directly after the pandemic,” Olsson said.

Even with the increased revenue, coworking operators face the ongoing struggle of maintaining profitability as many businesses in Sweden remain cautious about long-term commitments to office space.

In 2024, coworking supply faced some setbacks. For the first time in years, both Stockholm and Malmö saw a decrease in coworking space supply, primarily due to consolidations, mergers, and closures. While this slowdown may initially appear concerning, it’s seen as a necessary adjustment that could pave the way for a more sustainable future. 

Meanwhile, Gothenburg saw growth, adding around 12,000 square meters of coworking space, highlighting its emergence as a city for innovative workspaces.

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Olsson told us that the coworking segment is expected to double its share of Sweden’s total office market revenue within the next five years — from 7% to 14%. While the pandemic accelerated this, “we had already identified the growing demand for flexibility beforehand. Now, with inflation and broader market instability, the trend is only gaining further momentum.”

Tenant demands are also changing, with businesses prioritizing flexibility. Employers are increasingly splitting employees’ time between home and office, driving demand for short-term or month-to-month agreements. 

At the same time, cost-conscious businesses are seeking transparent, fixed pricing, and operators are responding by offering pricing that reflects the final cost of the contract. As more companies embrace hybrid working models, flexible office providers are becoming the go-to solution.

Despite some fluctuations in occupancy rates, which dipped across major Swedish cities in 2024, there’s a sense that the market will stabilize. Operators continue to benefit from offering turnkey solutions, vibrant community spaces, and the flexibility businesses need during uncertain times. 

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While traditional landlords are experimenting with shorter leases and flexible terms, coworking spaces still offer unmatched flexibility, making them highly attractive to companies navigating today’s unpredictable economy.

Sweden’s coworking sector offers valuable insights into how flexible workspaces can thrive even in challenging economic conditions. As the market grows and adapts, businesses and coworking providers alike must stay nimble, continually offering solutions that meet the changing needs of companies in an uncertain world.

“What’s now emerging is a more mature, demand-driven coworking ecosystem — one that’s better aligned with both tenant needs and financial sustainability,” Olsson told Allwork.Space.

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Tags: BusinessCoworkingeuropeSpace-as-a-Service
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Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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