Co-working space expects huge rise in demand

Many businesses have struggled due to the COVID-19 pandemic, but co-working spaces have bucked the trend and is expected to expand in the coming time, fuelled by companies seeking flexible leasing contracts, according to Savills experts.



Co-working spaces that provide flexibility for various kinds of businesses will develop, explaining it is sparked by the outbreak as well as demand for communication and exchange within the firms.

A survey from Savills showed that as of July 2020, demand for co-working spaces doubled that recorded in April, while 41 percent of office operators relished their exciting prospects for the office market in the next 12 months.

Savills experts expected growth of the office market will be promoted by foreign firms, insurance and e-commerce businesses who recorded strong development amidst the pandemic.

Demand for office is on the rise, and it will go up further in 2021, as the pandemic is under good control together with upbeat signs in local macroeconomy and demography./.