The share of coworking spaces in India’s office real estate market has surged to 27%, with Bengaluru and Delhi-NCR leading the trend, according to a recent report. The growth of coworking spaces has been fueled by startups, SMEs, and multinational corporations looking for flexible workspace solutions.
The report highlights that Bengaluru and Delhi-NCR have the highest share of coworking spaces at 32% and 15%, respectively. The rise of coworking spaces has also led to increased competition among operators, with players like WeWork, Regus, and Awfis dominating the market.
The report further notes that the demand for flexible workspace solutions is expected to continue growing in the coming years, with the Covid-19 pandemic further accelerating the shift towards remote and flexible work arrangements. As a result, coworking spaces are likely to play an increasingly important role in India’s office real estate market.
Despite the rise of coworking spaces, traditional office spaces still account for the majority of India’s office real estate market. However, the growth of coworking spaces is expected to continue, as they provide a cost-effective and flexible solution for businesses of all sizes.
Overall, the report suggests that the coworking trend in India is here to stay, with Bengaluru and Delhi-NCR leading the charge as the country’s top coworking hubs.
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