Flexible office market could be shifting to suburbs
The flexible office market could be shifting significantly towards suburban city areas in response to changing work practices brought on by the COVID-19 crisis.
A report from Colliers International on the flexible workspace in 42 markets across the EMEA region has revealed that some 18 percent of operator demand that previously targeted city centre locations has moved to inner city and more suburban outer city areas in the first half of 2020. In 2018–2019, on average, only 12 percent of new flexible workspace was acquired in suburban regions. In the last six months, this has increased to 16 percent. Colliers has also estimated that the inner cities have gained an additional 13 percent of take-up, becoming the most popular location type to date in 2020, with a 52 percent share of demand.
“Since the onset of the pandemic, it has become increasingly clear that providing secure, flexible workspace within an easy/safe travel distance from home will be key in reshaping t