List your space
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.
“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
"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
"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
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.
"Poland, especially Warsaw remains the main business hub in which international companies are choosing a serviced office option, which is reflected with the recent transaction over 100+ desks. An important group of tenants in this sector is made up of tech companies, especially suppliers of cloud-based solutions, software and game developers. The medium sized IT companies willingly decide on flex space, due to the dynamics of changes in the size of teams depending on subcontracts."
Thomas Jodar, Workthere Lead, Poland
“As most of the larger flex providers in central locations of the largest German cities including Berlin, Munich and Hamburg are recording high occupancy rates of mostly 80% and above, many providers are expanding their operations again within the cities to take advantage of the growing market potential.”
Daniel Jessop, Head of Workthere Germany
“Average occupancy levels in flex space in Dublin CBD stand at 85% and rising, compared to conventional office occupancy levels which are much lower, albeit increasing month-on-month. Tuesday to Thursday are reported as the busiest days in the office with usage lowest on Monday and Friday. With hybrid working we are seeing an increase in companies taking less desk space v number of employees, and on busy days utilising the breakout spaces, phone booths and meeting rooms available in flexible office buildings”.
Kim Hogan, Workthere Lead in Ireland
"With (energy) prices going through the roof due to inflation, we are seeing organisations more interested in flex buildings than ever before. At the same time, the vacancy levels in the most favourable areas, South Axis and Centre are very low. Fortunately, we are seeing both overseas operators as well as providers that are already active in the Amsterdam market, investigating options to open new business centres in these areas.''
Lex van Ingen, Head of Workthere Netherlands, Netherlands
Our experts guide you through the whole process and can help find the right space for your team at the best possible price.
Looking for a new office or want to list your office space for rent? Our team of experts are on hand to help.
All content © copyright 2024 Savills. All rights reserved. Savills plc, incorporated and registered in England and Wales. Registered office: 33 Margaret Street, London, W1G 0JD. Registered number: 2122174. Savills plc is a holding company, some of whose subsidiaries are authorised and regulated by the Financial Conduct Authority (FCA)
