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Demand boosts expansion of coworking spaces
17 December 2019 | Ana Tavares

The dynamic of the coworking spaces’ segment in Portugal remains evident, and demand is boosting the expansion of several coworking spaces, whose total combined area in the country is already around 130.000 sqm.

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The estimate is provided by Cushman & Wakefield, according to whom, 60% of these areas are located in Lisbon and 13% in Porto. Coworking’s share of the total office offer in both cities is residual (2%), but «this segment has, on one hand, been filling the gap left by the lack of offer within traditional office spaces and, on the other hand, has been meeting a new type of demand, whose focus is on the flexibility of the work space», quoted the consultant.

Several of the already established operators are expanding, as is the case of GoldenHub, Idea Spaces or Second Home. Other operators are now entering the market, such as Factory Lisbon, with a 12.000 sqm project on the Beato Creative Hub, Spaces, Heden and Wood.

Coworking is valued by commercial real estate

A survey carried out by C&W together with CoreNet Global on 550 commercial real estate leaders from all over the world, revealed that coworking spaces continue to be valued by the European commercial real estate leaders, at a time when around 2/3 of companies use this type of spaces.

On the other hand, many respondents expect to double their level of commitment towards this type of spaces within the next 5 years and 1/3 of companies which use coworking spaces keep reporting savings in operational costs above 5%.

However, around half the respondents foresee increasing difficulties in maintaining the teams’ culture and cohesiveness when workers operate outside the company and in coworking spaces. A similar number of respondents points out digital security as a possible concern.