NewsCase StudiesEvents

Flexible Space Represents 5% of Overall Office Space Market, According to Global Cities Report

Also in the news...

Safety and security requirements on imports and exports

Find out about new safety and security declarations that will apply from 1 October 2021 on goods leaving Great Britain (England, Scotland and Wales).

How to open a company in the USA while maintaining residence in Italy

It is one of the best ways for the Italian citizen to manage their business. This corporate vehicle allows access to multiple advantages of an advanced jurisdiction such as the US and also manages to maintain a low tax rate with very manageable levels of accounting and bureaucracy.

UK-ASEAN Joint declaration

Joint Ministerial Declaration on Future Economic Cooperation between the Association of Southeast Asian Nations (ASEAN) and the United Kingdom of Great Britain and Northern Ireland (UK).


These are exciting times for Dubai and the UAE. With the entire business world’s attention soon to turn to the Emirates with the delayed Expo 2020 kicking off in October (and continuing all the way through to the end of March next year) it’s never been a better time to be a UAE business owner

UK Shipping Concierge

The concierge service provides a one-stop shop to help maritime businesses interact with government departments.

Flexible Space Represents 5% of Overall Office Space Market, According to Global Cities Report

Back to News

Flexible workspace now accounts for up to 5% of total office space in 18 of the largest global markets, according to the Global Flex Market 2019 report by Instant Offices. This figure is expected to double in the next five years as demand increases and supply grows in response.

The annual report analyses the market for flexible workspace, including coworking, serviced and hybrid centres, in the top 18 markets for flexible workspace around the world.

No longer the domain of freelancers and start-ups, more corporates than ever before are looking to flexible options to reduce costs and increase agility. The report shows demand for flexible office space increased by +19% last year in the global cities, which was more than the average increase in supply at +16%.

Top 18 Global Cities with the Largest Flex Workspace Markets










Hong Kong



Los Angeles


San Francisco

New York






  • New York remains the most expensive market in the world, averaging $1,063, despite a decrease in desk rates of 4%. The decrease is largely driven by a supply increase year on year of 21%, much of which was in Brooklyn and Queens, which have lower rates.
  • San Francisco had the second highest cost-per-desk at $951, on average, despite a decrease in desk rates at 12%.

Supply and Demand

  • Flexible workspace demand from clients and flexible workspace supply increased 19% on average last year.
  • Demand for flexible space was almost double the global average inBerlin,Paris,Chicago,Los Angeles, andVancouveryear-on-year.

Corporate Demand

  • Larger requirements for 10 or more desks now make up around 20% of total market demand.
  • Occupancy requirements of more than one year are still above average in London, New York City and Chicago, but are lower in Hong Kong and Singapore.

Other Key Highlights of the Global Cities Report include:

  • Requests for larger spaces from corporates now make up one-fifth of total market demand.
  • Supply is spreading outside of CBDs as the market begins to evolve.
  • Increased supply is pushing desk prices down in key markets.
  • Increased competition is encouraging innovation and rising standards across the industry.
  • APAC market set to overtake EMEA in volume of supply by 2021.

James Rankin, Head of Research and Insight at the Instant Group says,

“The growth in supply of flex space has been the #1 story in commercial property markets around the world. But so many of the key city markets outside of the top five are undersized compared to the total sq. ft. of office space within them. There is more growth to come as client awareness of non-lease options increases the search for more choice in the market. We have only seen the tip of the iceberg for larger corporate requirements as companies look to flex 20% of their portfolios or more.”

For information on other regions around the world, as well as the full report, please visit here.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.