On November 16, 2021, Colliers released its Flexpansion 2021 report which showed a 155,000 square meters increase in the total amount of flex workspace across EMEA, equating to 25,000 extra desks.
According to Colliers, what contributed to this increase was the addition of 285,000 square meters of newly opened space, offset by 130,000 square meters of space that closed and a further 23,000 square meters that were abandoned.
“As occupiers increasingly turn to flex solutions to support new hybrid working practices, confidence is returning to the sector and operators are now looking outward for expansion opportunities,” said Colliers Head of Flexible Workspace Consulting Tom Sleigh. “Several markets have reported rising occupancy rates for flex space. Noticeably Dublin and Copenhagen have reported that demand has taken occupancy rates to close to capacity.”
Colliers also noted that the amount of flex space in the EMEA office market presently accounts for only 2% of supply, leaving the office door firmly open for existing and new operators to enter the market.