SOURCE The Instant Group
Flexible workspace demand increased 19 percent on average last year in 18 top cities; larger requirements (10+ desks) now 20 percent of total market demand
NEW YORK, July 8, 2019 /PRNewswire/ -- The Instant Group (Instant), a global flexible workspace specialist helping clients procure and manage their offices in more than 2,280 cities across 153 countries, has released its annual Global Cities report analyzing the market for flexible workspaces - including co-working, serviced and hybrid centers – in the top 18 markets for flexible workspace around the world.
"The market for flexible workspace is becoming increasingly sophisticated as operators go after the corporate market. Requirements are being taken for longer, client demand is becoming more nuanced, and operators are responding because of their agile business models," explained Tim Rodber, CEO of the Instant Group. "Now we are seeing the market evolve outside of the CBDs of the leading cities."
Key findings include:
"Overall, we have seen that in markets that have seen supply increase by more than 20 percent, those same markets have seen reductions in average desk pricing, largely because the growth accounts for new flexible workspaces outside the primary office market, which as such have lower costs-per-desk," said Rodber.
Supply and Demand
The cities represented in the report include Tokyo, Mumbai, Melbourne, Sydney, Hong Kong Island, Shanghai, Singapore, New York, Dubai, Madrid, Paris, London, Toronto, Berlin, Los Angeles, San Francisco, Beijing, and Chicago.
For information on other regions around the world as well as The Instant Group's full report, please visit https://www.theinstantgroup.com/media/2019/global_cities_2019_final_us.pdf.
About The Instant Group
The Instant Group is a workspace innovation company that rethinks workspace on behalf of its clients, placing more than 11,000 companies a year in flexible workspace such as serviced, managed or co-working offices. Its listings' platform www.instantoffices.com hosts more than 14,000 flexible workspace centers across the world and is the only site of its kind to represent the global market, providing a service to FTSE 100, Fortune 500, and SME clients. www.theinstantgroup.com
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