Flex Office Market in Spain

According to a recent report by the property consultancy firm CBRE, the flexible office market in Spain has experienced significant growth in recent years. Here are some key data points from the report:

Growth:

The flexible office market in Spain has grown by an average of 25% annually over the past three years.

Number of flexible office spaces 

There are currently around 400 flexible office spaces in Spain, with a total area of approximately 600,000 square meters.

Top cities:

Madrid and Barcelona are the top cities for flexible offices in Spain, with a combined total of around 75% of the flexible office space in the country.

In this regard, it is worth highlighting Malaga City that is experiencing significant growth, especially in recent years. The city has become an increasingly attractive destination for businesses and entrepreneurs due to its favourable business environment, low cost of living, and high quality of life. This has led to a rise in demand for flexible office solutions, such as coworking spaces and serviced offices.

First workplaces have selected these major cities to stablish flex office spaces, all located in prime locations such as Torre Europa First, Castellana Bernabeu First, Plaza Castilla First, Castellana Abascal First, María de Molina First and La Finca First; Sants First, Rambla Catalunya First and Fira First; Larios First.

Coworking vs serviced offices:

Coworking spaces account for most of the flexible office space in Spain, with around 70% of the total. Serviced offices, or so call business centers, make up the remaining 30%.

Occupancy rates:

Occupancy rates for flexible offices in Spain are high, with an average rate of around 80%.

Tenants:

The tenant groups in flexible offices in Spain are a broad range of companies, from freelancers and startups to SMEs followed by large corporations or enterprises.

For instance, First workplaces have been trusted by top companies like Pfizer, LinkedIn, Lenovo, Citi Group, Cognizant, Last Minute, Mutua Madrileña.

These data points shows that the flexible office market in Spain is thriving, driven by strong demand from a range of businesses and individuals seeking a more agile, cost-effective, and convenient workspace solution.