In Bucharest, the coworking spaces market grew massively in 2018: the demand for office space generated by this segment increased to almost 27,000 sq m. A strong interest came both from the new players on the Capital market (Mindspace, 3house) and from the largest local name - IWG, which dominates the domestic market with two brands: Regus and Spaces.
The coworking accounted for just under half of the total flexible workplaces in Bucharest (around 40,000 sqm at the end of 2018). In 2019, we expect more co-working spaces to be delivered, adding to this market over 10,000 sqm. By 2023, Bucharest could have approx. 82,000 sqm of co-working spaces.
In Bucharest, the demand for such spaces could come from companies that want to give employees the opportunity to work from other areas of the city.
"In the capital, much of the demand for such spaces could come from companies looking to give employees the flexibility to work in different areas of the city without having to go to the office every day. This will help employees reduce travel time, considering that Bucharest is considered one of the busiest cities in Europe. Demand may also come from companies with business that involves a series of limited-term projects, either from those who have a transition period to change headquarters or enter the market and need a period of time to understand the speed of business development and, implicitly, the need for long-term real estate", said Daniela Popescu, Associate Director of Office Agency at Colliers International Romania.
According to Colliers data, in the end of 2018, flexible workplaces reached 1.5% of the total office space in 22 European cities, with the highest percentages in London and Amsterdam - 5%. Bucharest is slightly above average, with a share of 1.7%. (source: constructiv.ro)