The Indian real estate market sees a co-working space boom in demand.
The rise of flexible workplaces is a worldwide tendency. After the pandemic, most companies opted for hybrid solutions. And even returning to the office, most people still prefer a flexible alternative to working from home.
For 2023, data show the same tendency. And India offers the highest numbers. As a result, real estate predicts an increase in sales as more buyers are interested in investing in new co-working spaces. The boom in demand is primarily impacting metropolitan areas and mid-level cities.
Worldwide, the Occupancy rates at co-working spaces reached 90-100%, compared to 45-60% a year ago. Especially in India, most flexible locations focus on well-being and work-life balance, promoting a new way of working. Flexible areas are mainly in cities where people can work independently and move around.
So, this co-working space boom in demand will likely stay in 2023.