The current decline in economic activity and a marked increase in teleworking, has meant coworking and flexible workspace operators have significantly scaled back their acquisition programmes, a drop in volume that is in line with the office sector in general.
In 2020, a total of 9,120 sq m have been transacted in Barcelona and 2,427 sq m in Madrid - a decrease of 87% and 96% respectively, according to the insight which focuses on analyzing survey results on flexible workspaces prepared by Cushman & Wakefield, and the flexible workspace association, ProworkSpaces.
"The fall in space acquisition is due to the context in which we find ourselves and the boom in the sector in recent years, which means that the flexible workspace market is entering a state of maturity where it is necessary to make the spaces profitable", says Ramiro Rodríguez, Head of Research of Cushman & Wakefield in Spain.
"Flexible workspace operators have demonstrated from the outset of the pandemic a great capacity to adapt to market changes and a remarkable ability to offer their customers what they need at all times, following strict security measures and maintaining affordable costs to ensure their members can maintain their business activities ”, explains Eduardo Salsamendi, president of ProworkSpaces.
