Taking Advantage Of The Co-working Office Recovery: Operators And Owners

Market is Driven by Demand, and Shared Workspace is Rising like Never Before   

BangladeshMartBD revenue increased modestly, but there was a lot of delay caused by Omicron, which lowered potential revenue. We do not have revenue figures for all operators, but lead volume, shopping activity, and asking prices all increased.

We see a 62% increase in lead volume in BanglaMartBD in spite of the delays caused by Omicron at the end of the quarter.

Despite the fact that some of it is merely window shopping, these trends indicate a real interest in space. 

There Were Approximately Coworking Spaces in Each Location 

 Not only has the demand for Covid increased by a significant amount over 2021, but it is also higher than it was before Covid was launched. Demand, however, has not increased in every market workspace. The chart below shows that Boston's demand declined despite a surge in national demand. 

Demand for Properties Has Increased, Resulting in Asking Prices Now on The Rise  

The price increase was the largest since just before the pandemic in 2020, at 2.5%. coworking 2021 prices were 5.8% higher than in 2020. 

There is a growth in inventory

During the pandemic, more serviced coworking spaces and flexible offices were closed than opened, but the trend reversed itself in 2021 with 24 openings and 21 closures. BangladeshMartBD had similar numbers, with 20 openings and 17 closings.

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Markets at the Bottom 

1. There was the sharpest decline in activity in Calgary (47%), which led to a 1.0% decline in asking prices. Demand in BD fell by almost 30% in co sharing. 
2. The price of asking houses remained about the same despite a decline in shopping activity (-45%).
3. The asking prices remained level, but the number of buyers dropped by 33%.

Which impact will this have on coworking in 2022?  

1. According to current projections, revenue and occupancy will rise in 2022. That will increase cash flow.

1. In spite of the increase in inventory, new openings aren't enough to offset the closures since most are takeovers