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.

Flexibility continues to drive the conversation in office leasing discussions. Our latest research points to challenging market conditions and stubborn demand levels. However, continued adoption of hybrid working and the fundamental basics of flexible workspace suggest that demand levels will recover in the coming years.

Agile space consumption is up 26% since the outset of the pandemic, according to recent research by The Instant Group and the Urban Land Institute. This article shares how employers can embark on an agile workplace transformation with our recommended five-step guide.

Data from The Instant Group reveals unique insights into the growing demand for amenity-based workspaces in the United States and the United Kingdom.

Global searches for amenities have increased by 9.6% over the past year, reflecting the growing adoption of Space-as-a-Service solutions.

In part II of our Success & Sustainability Webinars, we explain the practical application of sustainability in a flex space world and why operators need to act now to gain a business advantage.