Warsaw is the leader of the Central and Eastern European region on the coworking market

Warsaw is the leader of the Central and Eastern European region on the coworking market

The fashion for coworking spaces, which is also visible on the Polish office market, is a trend developing in the largest capital cities of Central and Eastern Europe.

As analyzed by Cushman & Wakefield experts, the total number of flexible offices in Budapest, Moscow, Prague and Warsaw already amounts to 286,000. m, which is equivalent to approx. 1%. the total office stock of these cities (29.9 million sq m).

Warsaw is the most active

Of the largest cities in the region, the most active coworking market in 2018 was Warsaw. Lease agreements with flexible space operators covered 92.4 thousand sq m. m, which gave 10.7 percent. share in the total rental volume on the office market. Slightly less, 64.3 thousand. m, were signed in Moscow (3.2% of the total lease volume), and in Prague and Budapest – 27.1 thousand, respectively. m (5.2%) and 17.5 thousand square meters (3.3%).

Currently, it is Moscow with over 129,000. m2 of flexible office space remains the leader among the CEE capitals. Warsaw with 77.4 thousand square meters is in second place. The next positions are taken by Prague – 37.1 thousand. sq m and Budapest – 17.5 thousand m. The largest operator of flexible space in the region remains the IWG Group (in Poland, the owner of, among others, the Regus and Spaces brands), which has the largest office space resources in Budapest, Moscow and Prague. In Warsaw, BusinessLink took first place, ahead of brands such as WeWork and NewWork. – we read in the Cushman & Wakefield report.

– The coworking space market is experiencing a real boom. We are currently in the phase of intensive development of this segment in the entire CEE region. Large operators are interested in entering not only the largest European capitals, but also developing in smaller markets. In Poland, expansion on regional markets will be particularly interesting, because in Warsaw the best and most interesting locations for tenants from this sector seem to have already been occupied. – said Mikołaj Niemczycki, Associate, Coworking Clients Manager, Cushman & Wakefield.

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