A new report on the future of the office by the Urban Land Institute (ULI) and The Instant Group has found that a large majority of landlords and tenants expect to see a rise in flexible leasing terms over the next five years.

According to the study, which is based on a survey of 285 office occupiers, landlords and third-party advisers across the globe, demand for flexible office space has increased by 29 percent since the COVID-19 crisis. As a result, 80 percent of the landlords questioned for the report, anticipate greater lease agility in the medium- and long-term, with 75 percent of occupiers expecting the same development. ULI and The Instant Group say that although there are regional and sector variations on what form such flexibility should take, most respondents believe future lease structures will allow occupiers to grow and shrink their office footprint within a single contract.

The demand for shorter more flexible leases and pay-per-use services will result