Instant – Coworking market in Europe, short-term pain, long-term gain (CWE23)

In 2023, this conference deck from Instant examined operating conditions and market opportunities in Europe’s flexible-workspace sector. It reported that 78% of European operators had experienced cost increases, while demand across Europe had grown by 18% compared with the pre-Covid period. The deck also stated that only 51% of operators spent more than 25% of their time with customers, whether existing or new. A European map compared supply growth with demand ratios across selected cities, presenting an uneven geographic picture of market opportunity. A separate chart compared flexible-workspace rates with traditional office rates in cities including Stockholm, Paris, Madrid, Copenhagen, Amsterdam, Berlin, Barcelona, Lisbon, Warsaw, Porto, Bucharest and Budapest. The plotted relationships ranged from approximately parity to multiples of traditional rents, supporting the deck’s argument that rates were being squeezed. Survey results on customer choice identified friendly staff as a reason for selecting a space for 49% of respondents, followed by a trusted brand and help creating a community, both at 35%. The closing slides emphasized operational basics and briefly introduced the need to navigate a future workplace shaped by digital and virtual collaboration.

Key findings

• 78% of European operators reported that their costs had increased.
• Demand across Europe had grown by 18% compared with the pre-Covid period.
• Friendly staff was cited by 49% as a reason customers chose a workspace, while trusted brand and community creation were each cited by 35%.

Presented at Coworking Europe 2023