Since the disruption of the pandemic, markets across Europe have seen a significant recovery. As more businesses value the flexibility provided by this type of workspace, in times of economic uncertainty and with shifts in ways of working a more flexible solution becomes increasingly popular. In many markets globally we are seeing a number of new flexible spaces opening up in response to the increasing demand. We caught up with our local experts in key markets across Europe to get insight into what they’re seeing in the flexible office market.
What is a key trend we’re seeing in the London flexible office market?
“We have seen the supply of flex space in main hubs across London like Victoria, Mayfair, Kings Cross and Borough struggle to keep up with the levels of demand from businesses at the lower end of the market (1-50 desk range). As a result of this lack of choice, we’re seeing businesses forced to expand their search radius into emerging hubs such as South Kensington, Chelsea, Islington and Bermondsey which were less desirable locations 12 months ago”
Piers Mallitte, Associate Director, Workthere UK
What is a key trend we’re seeing in Paris’ flexible office market?
"We’re currently seeing two trends regarding companies looking for office space in Paris. Firstly, businesses are again looking at Paris CBD (1st,2nd, 8th, 9th, 16th,17th district) despite its high cost, as they want to be in a very central location close to restaurants and bars that’s easily accessible by public transport to facilitate and motivate people to come to the office. Secondly, is business’ increasing interest for a managed office solution which provides a dedicated turn key solution with flexible terms."
Fabrice Le Roux, Head of Workthere France
What is a key trend we are seeing in the Madrid flexible office market?
"In the flexible office market in Madrid, we can see that the Castellana axis and, especially, the Azca area, concentrate a large part of the new supply and demand. In addition to the availability of transport connections, this also reflects the growing interest of operators and companies in occupying grade A office buildings."
Violeta Mesonero, Office Space Consultant, Workthere Spain
How much does it cost to rent a private office across key cities in Europe?
The average desk price for H123 is highest in London, Dublin and Paris with an average rate of €800 per desk per month, closely followed by Stockholm and Munich sitting at €700. At the other end of the scale in Porto average pricing is €240 per desk and €300 in The Hague and Salzburg. Expand the map below to see our full half year pricing guide.
