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London, Prague and Amsterdam lead flex office take-up in Europe
Research - SEPTEMBER 7, 2023

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London, Prague and Amsterdam lead flex office take-up in Europe

by Released

London City remains the most active flexible office market in Europe, with the sector accounting for 13 percent of all office take-up in first half 2023, according to research from Savills and its flexible office specialist Workthere.

This is followed by Prague (8 percent), Amsterdam (6 percent), Madrid (5 percent) and Warsaw (4 percent).

Flex offices accounted for 4 percent of total European office leasing during the first half of this year, says the international real estate advisor.

“Across Europe, we are seeing the flex office sector bounce back from the pandemic as companies continue to focus on cost management while trying to secure the best available space. Overall, we believe flex office operator expansion will increase in 2024 to circa 5–8 percent of take up in Europe, once contract occupancy approaches the 85 percent mark,” said Ed Bouterse, head of Workthere, Europe, and flex portfolio management, EMEA. “As a result of stable demand and higher

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