Rethinking Workspace

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 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.

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.

With just 14% of occupiers believing their existing portfolios align with their business objectives, the office sector is in “a full state of flux.”

Demand is up 16 percent across Latin America in 2022 compared to 2021 and as more companies embrace the benefits of hybrid working.

Hosted at the EG Pavilion, we presented the results of our latest report and brought together an industry-leading panel to discuss the implications of the results.

Based on our expertise at The Instant Group, this comprehensive glossary presents definitions of the 38 most commonly used terms in the flexible office and coworking industry.

Instant's latest data shows flexible workspace demand in Houston, Texas has declined by 27% year-over-year, though it is still up 19% from pre-pandemic 2019.