This report draws insights from our recent Future of Flex survey, with responses from over 200+ flex space providers and our proprietary database that tracks supply, demand, and transactional data on flexible workspace.
Embarking on a comprehensive exploration of the flexible workspace landscape, this report meticulously dissects key market trends and data points, offering vital guidance to providers shaping their portfolio strategies. As 60% of operators grapple with soaring operational costs and inflation, our analysis unveils the dynamic shifts in flex demand, with an impressive 19% surge in Q3 2023 alone.
Delving deeper, our findings spotlight a 32% uptick in average requirement size from 2022 to 2023, signaling the increasing reliance of larger occupiers on flexible solutions for swift portfolio adjustments. Meanwhile, the delicate dance between supply and demand unfolds, with a post-COVID demand bubble fueling a surge in new supply, leaving markets like San Francisco potentially overexposed.
Amidst this landscape, the report underscores the paramount importance of a people-led hospitality approach, a key differentiator in a sector where 53% of operators plan to expand their footprint in the next two years, and 60% of landlords anticipate at least 20% of their portfolio to be flexible by 2030. Download our full report to find out more.