A majority of corporate real estate professionals polled at CoreNet Global Summits in North America, Europe, and Asia in 2018 and 2019 believe that coworking is a trend that will continue to grow and impact their markets.
Some 63% of respondents currently have coworking property within their portfolios, according to a report published by Cushman & Wakefield. What’s more, nearly two-thirds of the companies surveyed have a positive or very positive view of coworking.
The median company surveyed has 3% of its employee base using coworking regularly. This percentage is expected to grow fivefold within the next five years, the survey found.
Across all global regions, the top two benefits to coworking are flexibility (e.g., the ability to quickly ramp office space up and down) and reduced real estate costs. Digital security is the most commonly cited potential downside, with decreased company culture and cohesion and personal privacy named second and third by most respondents.
Related Stories
Codes and Standards | Oct 10, 2018
Interactive heat maps track temperature ranges in U.S. cities
Urban heat island effect can vary by as much as 37°F in the same city.
Codes and Standards | Oct 9, 2018
Power systems will become more decentralized for better disaster resiliency
Businesses, homeowners will control more power-generation capacity.
Codes and Standards | Oct 5, 2018
Getting commitments from key subs critical on government contracts
Withdrawn subcontractor bids can be costly.
Codes and Standards | Oct 4, 2018
Internal watchdog says EPA falling short to protect school children from asbestos
Agency not conducting enough inspections, report says.
Codes and Standards | Oct 3, 2018
Climate change impacts could prompt realignment of assets for commercial property developers
Strategies include reducing exposure to properties in flood-prone areas.
Codes and Standards | Oct 2, 2018
Political will, tougher standards needed to reach carbon neutral goal
Stretch codes, more stringent credentials for designers, contractors, and inspectors may be needed.
Codes and Standards | Sep 27, 2018
Natural light is the most prized office perk
Employees crave sunshine and views of the outdoors more than cafeterias, fitness centers, and childcare.
Codes and Standards | Sep 26, 2018
Industry consensus needed for multifamily energy efficiency retrofit approach
Choice of insulating materials can impact indoor air quality, resident health.
Codes and Standards | Sep 25, 2018
New market forces disrupting global real estate development industry
Executives concerned about trade policy, labor shortages, approval processes.
Codes and Standards | Sep 21, 2018
More than 130 organizations petition OSHA to create heat protection standard for workers
Includes mandatory rest breaks, heat-exposure monitoring, record-keeping injury requirement.