Flexible office space continued to expand across Europe in 2026, with occupier demand outpacing supply and major operators acquiring smaller competitors. According to CBRE’s European Flex Market 2026 report, flex space is gaining a larger role in corporate office portfolios as managed offices and other flexible arrangements attract demand.
Flex Space Reaches 2.6% of European Office Stock
European flex space grew 3.4% year over year through the third quarter of 2026, representing approximately 2.6% of total office stock.
Central London recorded the highest penetration rate at 11%, up from 10.2% in 2025. Amsterdam followed at 5.1%, Warsaw at 4.2%, and Barcelona at 4.1%. Many of Europe’s largest office markets remained below 2%.
CBRE’s figures include coworking, serviced offices, and managed offices. Managed offices, which provide fully fitted and often self-contained space for a single company, were identified as the fastest-growing segment.
The report also notes that official figures may understate the amount of flexible space available. Some landlords and third-party operators offer traditionally marketed offices on flexible or managed terms. In Central London, this additional supply could increase the recorded penetration rate by three to four percentage points.
Technology Companies Account for 51% of CBRE’s Flex Deals
Technology, media, and telecommunications companies accounted for 51% of flex deals brokered by CBRE in 2026 to date, up from 47% in 2025. Financial and professional services represented 26%, down from 33%, while industrial and logistics accounted for 14% and life sciences and energy for 9%.
The average deal size declined from 34 desks in 2025 to 26 in 2026 to date. CBRE reported that deal volume increased despite the smaller average transaction size.
Prime Flex Office Rates Rise in Several European Cities
Prime desk rates increased by double digits in Milan, Brussels, Prague, and Barcelona, according to CBRE’s comparison of the upper pricing tier in each market.
Brussels recorded an 11% increase to €780 per desk per month. Amsterdam reached €1,350, up 8%, while Paris rose 3% to €1,800. London remained the most expensive market surveyed at €2,200 per desk per month, unchanged year over year.
Rates were flat in Dublin at €900 and Munich at €1,000. Berlin recorded a 10% decline to €900.
CBRE cautions that these figures represent prime desk rates and do not capture the full range of available workspace products or prices.
IWG Leads a Wave of European Flex Acquisitions
CBRE identifies consolidation as a major development in the European flex market, with IWG completing several acquisitions in 2026.
The company acquired German operator Design Offices, which had approximately 50 locations and 260,000 square meters of premium flexible workspace and meeting space. It also acquired Fora’s German portfolio as the operator refocused on its U.K. business.
In France, IWG acquired Wojo, adding approximately 100,000 square meters across 17 flagship locations and a wider network of business spaces operated in partnership with Accor Group.
Other transactions included Spanish operator Aticco’s acquisition of Lisbon-based Nimbler Spaces, adding approximately 8,000 square meters across two locations. In the U.K., private equity firm Apiary Capital funded a management buyout of Orega, which operates 25 centers and plans to expand its network.
CBRE said it is advising on additional transactions across several European markets, pointing to growing private equity interest in flex workspace operators.
Occupiers Expect Flexible Space to Reach 28% of Office Portfolios
CBRE’s European Office Occupier Sentiment Survey 2026 found that the average share of corporate office portfolios allocated to flexible space increased from 9% in 2022 to 19% in 2026. That figure was down from 21% in 2025, but occupiers expect flex to account for 28% of their portfolios within two years.
CBRE attributes demand largely to companies seeking fitted, amenity-rich offices without committing their own capital. The report also says growing AI use is reinforcing demand for workspace arrangements that can accommodate changes in headcount.
CBRE expects demand to continue outpacing supply and believes operators building larger platforms in attractive European markets will be best positioned to capture future growth.
