Rethinking Workspace

New York City

New York city is the second largest flexible office market globally with a wide mix of providers offering space. Rates vary dramatically across the city with some of the highest average rates per desk globally being achieved in the city. While the majority of supply exists in Manhattan in the last 12 months we have seen a move towards other boroughs such as Queens, Brooklyn and even Staten Island.

Singapore

Singapore continues to see high levels of supply growth year on year with one of the largest flexible workspace markets in Asia found in the Island City-State. Singapore has long been a key business hub and with very limited office supply was a natural expansion ground for flexible working as providers looked to expand outside of their home markets. Because of this the share of large international operators is high across the city although niche coworking providers continue to pop up as the market develops.

San Francisco

Thanks to the tech boom in the city over the last decade the demand for high quality office space has been ever present. This meant that San Francisco was one of the first US cities to see a real flexible workspace industry. Rates remain some of the highest in the US and while larger companies are looking to create their own flexible environments the number of small companies looking to grow in the city creates continuous demand. Due to the cost of commercial real estate in the city we have more recently seen providers move out of the city core and into the wider bay area.

Business Migration Propels the US Flexible Workspace Market into the Next Dimension

Demand for flex workspace is up 58% when compared to pre-pandemic level across the US with Miami outpacing all other cities with demand growth increasing 143%. Long-established corporate powerhouses such as New York City and Chicago are yet to fully recover but new business hubs such as Tampa and Houston are starting to emerge and outpace traditional commercial hotspots.

Israel Flex Market Review 2022

The flexible office market in Israel has not only stabilized, but it has emerged from the pandemic in a stronger position than ever. Being the first country in the world to start vaccinating, this accelerated its reopening and Israel is quickly regaining a sense of normality.

The Great Workforce Migration is Shaping the Flexible Office Landscape in the U.S.

As geographic boundaries of work have eroded and work has evolved from a noun to a verb, new migration patterns are emerging across the U.S. shaping the flexible office landscape.

Coworking Insights - 2022 Hot Desk Price Index

A new report by Coworking Insights compares the most expensive countries and cities for coworking in their 2022 Global Hot Desk Price Index.

Breakdown of the Seattle Flexible Office Market

While there has been improvement in office demand in the Pacific Northwest, return to office plans remain unpredictable. Seattle is no exception as employees are making demands about where they work, specifically if they are willing to move to less expensive but close by markets such as Bellevue.