{"id":30660,"date":"2022-09-21T12:00:05","date_gmt":"2022-09-21T05:00:05","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30660"},"modified":"2022-09-22T00:13:13","modified_gmt":"2022-09-21T17:13:13","slug":"indias-coworking-spaces-gain-traction-global-market-to-reach-usd30-billion-by-2026","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indias-coworking-spaces-gain-traction-global-market-to-reach-usd30-billion-by-2026\/","title":{"rendered":"India\u2019s coworking spaces gain traction, global market to reach USD30 billion by 2026"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">By the end of 2025, India\u2019s stock of flexible office space is slated to reach 80 million sq ft<\/span><\/p>\n<figure id=\"attachment_30661\" aria-describedby=\"caption-attachment-30661\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-30661\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/09\/shutterstock_1742562716.jpg\" alt=\"\" width=\"1000\" height=\"563\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/09\/shutterstock_1742562716.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/09\/shutterstock_1742562716-400x225.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/09\/shutterstock_1742562716-600x338.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/09\/shutterstock_1742562716-768x432.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-30661\" class=\"wp-caption-text\">Coworking spaces saw the largest growth in Bengaluru, Chennai, and Hyderabad. Satyajit Samantray\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">India continues to see an influx in demand for coworking spaces, according to <\/span><a href=\"https:\/\/allwork.space\/2022\/09\/demand-for-coworking-spaces-in-india-skyrockets-233\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Allwork.Space<\/span><\/a><span style=\"font-weight: 400;\">. A recent study revealed that flexible workspaces account for 20 percent of the country\u2019s office stock, a 233 percent increase from H1 2021\u2019s six percent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coworking spaces saw the largest growth in Bengaluru, Chennai, and Hyderabad.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, due to the adoption of activity-based working, hotdesking, and targeted mobility gaining traction recently, office space absorption has the potential to reach 53 to 57 million sq ft by the end of 2022, reported <\/span><a href=\"https:\/\/www.business-standard.com\/article\/companies\/office-space-absorption-to-touch-53-57-mn-sq-ft-by-2022-end-report-122091401032_1.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Business Standard<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By the end of 2025, India\u2019s stock of flexible office space is slated to reach 80 million sq ft.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There were 29.5 million sq ft of leasing activity recorded in H1 2022, an increase of 157 percent YoY. Supply addition increased by 26 percent YoY and reached 26 million sq ft.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tech firms accounted for 30 percent of the space take-up in H1 2022.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/office-absorption-in-india-sees-record-highs-growing-130-yoy-by-the-end-of-q2\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Office absorption in India sees record highs, growing 130% YoY by the end of Q2<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Mr. Anshuman Magazine, Chairman &amp; CEO, India, South-East Asia, Middle East &amp; Africa, CBRE, said, \u201cThe real estate sector in India performed well in H1 2022 amid the evolving market dynamics, hybrid working remains the most favoured workplace policy but the impact of the recession in the US and some European nations could be felt in the Indian office market as well.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the global coworking space market is projected to expand to USD16.2 billion this year, up from last year\u2019s USD13.6 billion, according to <\/span><a href=\"https:\/\/www.reportlinker.com\/p06229762\/Coworking-Space-Global-Market-Report.html#:~:text=The%20global%20coworking%20space%20market,(CAGR)%20of%2018.9%25.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">ReportLinker<\/span><\/a><span style=\"font-weight: 400;\">. It also revealed that the resurgence in demand is driven by the resumption of office activities and gradual shifts to a new normal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Companies choose co-working spaces over expensive dedicated offices while the rest of the world treads the route with cautious optimism. According to the same report, the worldwide coworking market would expand by USD30 billion by 2026.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">The Property Report editors wrote this article. For more information, email: <a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\">propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By the end of 2025, India\u2019s stock of flexible office space is slated to reach 80 million sq ft<\/p>\n","protected":false},"author":12,"featured_media":30661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[635,3004,1278],"class_list":["post-30660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-coworking-spaces","tag-flexible-workspaces","tag-office-spaces","news_country-india","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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