Flexible offices return to pre-Covid occupancy levels

The sun is shining again on flex offices. Occupancy levels globally have recovered in both private offices in flex space and shared workstations, now standing at 81% and 69% respectively, in line with pre-pandemic levels, according to the Flexmark report by Savills.

According to the report, the preference for private offices has remained above shared-use offices since 2020 and, in the case of Spain, occupancy levels in private offices have risen from 72% to 74%.

In terms of user type, the Flexmark report confirms a shift in demand demographics that highlights greater diversity and resilience in the market. Scale-ups (21-100 employees) and corporations with more than 100 employees accounted for 42% of global demand, an increase of 37% over 2021.

In Spain, the distribution of demand by company size is still mostly divided between start-ups and companies with up to 20 employees, although companies with more than 100 employees now account for 28%.

78% of operators surveyed worldwide confirmed that their users use the space three to four times a week. In Spain, the frequency is higher, with 82% of operators surveyed stating that their tenants use the space four to five times per week, and more than half in the five-day slot, likely influenced by a lower-intensity hybrid work culture compared to other countries.

In terms of the sectors that make most use of the flexible office format on a global scale, B2B companies account for 24% of demand, technology companies for 17%, and financial services companies for 16%, with the largest share in the distribution by type of activity.

In Spain, the tech sector is the largest user of flexible space, with 31%, followed by B2B services companies, with 27%, and activities related to materials and resources, with 18%.