Reports, Real Estate News, ET Real Estate

New Delhi: flexible workspace According to a recent report by Sevilles India, the market share of 20% of total office space demand is expected to reach 12 million sq ft by the end of 2022 across six major cities of India, having crossed 14% share in 2019. Real estate consulting firm.

The sector had a market share of 18% in the total office leasing activity seen in the first half of 2022.

With employees returning to physical offices, agility and flexibility have become the core of the real estate decision-making process. As a result, strong traction is evident in the co-working desks taken up by the occupants in H1 2022.

Co-working operators have leased more than 75,000 seats in the H1 2022, compared to 60,000 seats in 2021. About 75% of the demand for co-working desks in H1 2022 can be attributed to the three largest flex markets – 45% in Bengaluru, 20% in Pune and 10% in Hyderabad.

According to Savills India’s Research, total flex seat demand is projected to reach a new high with 150,000 seats, an increase of 1.5X year-on-year in 2022.

The report also pointed out that the average monthly fare in India is expected to reach Rs 12,500 per seat by the end of 2022, an increase of 13% on a year-on-year basis.

Start-ups saw a 13% share in flex seats in H1 2022, while new age businesses such as fintech, healthtech, edtech, retailtech, etc. had a market share of 20%, with a cumulative gain of around 15,500 seats.

About 52% of flex space leasing has come from multinational companies. In the era of hybrid and work from anywhere culture, MNCs are adopting co-working spaces to encourage employees to work in locations closer to their homes, keeping an eye on dynamic real estate requirements.

Interestingly, the average transaction size of co-working spaces is about 53% higher than the average for other regions from 2020 to H1 2022. The area has already seen 35 transactions of 50,000 sq ft or more in H1 2022, which is more than complete. -The big-ticket activity of the year 2021. The dominance of big-ticket transactions is also reflected in the number of desks taken up by large occupants in co-working centers across the country.