The area of co-working spaces in Bucharest may double by 2023

The area of co-working spaces in Bucharest is currently around 40,000 sqm and can accommodate between 5,000 and 6,000 employees, according to a study by real estate consultancy firm Colliers International.

The segment has been developing very fast in recent years and the trend will continue, with numbers expected to double by 2022/2023, the same analysis shows. Thus, Bucharest may have over 82,000 sqm of co-working spaces and 11,000 employees working in these spaces over four years.

The demand for flexible workspaces in Bucharest might come from companies seeking to offer their employees the flexibility to work from other parts of the city, according to Colliers.

The flexible workspace market in Bucharest took off in 2018 when the total take-up of office spaces generated by this segment increased to almost 27,000 sqm. A lot of interest has been coming from new players on the Bucharest market (Mindspace, 3house) as well as the biggest name locally – IWG, which operates through two brands: Regus and Spaces.

At the end of 2018, flexible workspace accounted for only 1.5% of total office space on average across the 22 major European cities surveyed by Colliers, with the highest proportions recorded at just 5% in London and Amsterdam. Bucharest is slightly over the average, at 1.7%.

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