Businesses looking to use flexible office space more: survey

Flex office spaces have emerged as the leading short-term real estate portfolio strategy for corporations, with nearly 47% of them saying they intend to increase the use of flexible office spaces over the next 12 months, revealed a survey conducted by property consultant CBRE.

According to the survey, about 56% of the respondents plan to allocate more than 10% of their total office portfolio to flexible spaces by 2025.

Researchers noted a growing interest in tier-2 cities, which can be attributed to the availability of skilled talent pools and improving infrastructure.

In the first quarter of 2023, 13% of the respondents chose to relocate certain functions to tier-2 cities, as compared to 8% in December 2021.

“Despite the challenges posed by macroeconomic and geopolitical factors, the Indian office sector has shown resilience. Looking ahead to 2023, we anticipate these challenges will persist, necessitating adaptability and strategic foresight,” said Anshuman Magazine, chairman-India, South-East Asia, Middle East & Africa, CBRE.