Real Estate News
Nexudus publishes the largest flexible workspace study to date, revealing key industry trends
Nexudus, the leading white-label platform to manage coworking and flex workspace, has today published what is believed to be the largest study of the flexible workspace industry ever conducted.
With 3.5 million data points analysed from across 90 countries, the study reveals key trends in the evolution of the industry over the past five years, including the impact of COVID on flex demand and usage. The study also includes comparative analysis of the flexible workspace markets in the USA, UK and Spain.
As building owners and corporations form their workspace strategies for 2022, the study provides the most comprehensive insight into flex space to date, from the market leader for flex space management technology. Since launching in 2012, Nexudus has worked with thousands of spaces in more than 90 countries, including FORA, NeueHouse, and Level39.
Carlos Almansa, Co-Founder at Nexudus, comments:
"Ten years ago, coworking was very much seen as a niche solution for freelancers and small startups. Since then, socio-economic changes, the changing ways in which the workplace is perceived and used, as well as the ongoing fallout from COVID, have led to a growing demand for flexible workspace, which is fast becoming the go-to solution for more and more companies.
"As a result, this report - we believe the largest of its kind - provides a timely analysis for all operators, landlords and corporates, all of whom are adjusting to new working patterns and tastes."
The full report is available for download via the firm's website: https://www.nexudus.com/nexudus-coworking/insights-trends/
Key insights include:
- Between the first half of 2016 and the last half of 2020, spaces with between 100 and 250 members decreased their ratio of members per bookable resource by 37%. In the same period, spaces with more than 250 members only did so by 13%.
- Since the first lockdown (March-April 2020), the ratio of members per resource has decreased by 12%.
- Spaces with more than 250 members have a ratio of members per resource that is three times higher than spaces with fewer than 100 members.
- Hot desk bookings have increased by 62% compared to the pre-pandemic period. The percentage of hot desk bookings currently represents 8% of all bookings of bookable resources. Before the pandemic, the maximum it had reached was 3%.
- The average duration of a pre-pandemic booking was 115 minutes. With the pandemic, the average duration has increased to 122 minutes, that is, it represents an increase of 6%.
- The larger the flexible workspace, the shorter the average length of the bookings: the difference between spaces with more than 250 members and those with less than 40 is 18%, in other words, 22 minutes on average during the pandemic period.
- In a space with more than 250 members, the average hourly price of a resource is on average between 19% and 30% higher than in spaces with fewer members.
