Flexible Offices May Increase Rents in the Post-Pandemic Era

11 September 2020 – According to a study by B. Prime on co-working in Portugal’s two largest cities, the Greater Lisbon area is currently home to 115 co-working offices with a total of 82,000 square metres. Porto, for its part, has flexible office spaces with nearly 9,000-m2 in area. Work is underway on thirteen new co-working developments in Lisbon, eight of which are set to open later this year.

A report by the Global Coworking Unconference Conference and Emergent Research forecasts that by 2022, approximately 5.1 million professionals will be working in flexible offices, compared to 1.7 million people in 2017. Market players recognise that occupation rates will drop due to the pandemic and the need for increased distancing between individuals, likely pushing rental costs upwards in the short-term. In the medium-term, however, operators expect a recovery based on their experiences with the SARS epidemic from 2002 to 2004.

Original Story: Dinheiro Vivo – Sónia Santos Pereira

Translation/Summary: Richard D. Turner