Flexible office market in EMEA enters new phase of growth

The flexible office market across Europe, the Middle East and Africa is shifting into a new phase, according to new data from Colliers. The region’s flex workspace footprint grew by more than 348,000 square metres in 2024, despite difficult economic conditions and reduced capital availability. The firm’s Flexpansion: The Architecture of Agility report charts a 4.4 percent year-on-year increase in flexible space across 46 EMEA markets. The total now stands at 8.3 million square metres.

While major cities such as London, Paris and Berlin continue to lead, the report also highlights rapid growth in emerging markets including Riga, Athens, Tallinn and Ljubljana. This, it suggests, signals a shift from flex as a short-term solution to a longer-term part of corporate real estate strategies.

Colliers describes the trend as a move away from coworking and towards managed, higher-quality environments. These are designed to give occupiers greater control, privacy and access to services. Demand is particularly high for well-connected, centrally located buildings—often those with character or heritage value.

“This is no longer just about desks and coffee machines,” said James Walton, head of global flex advisory at Colliers. “Landlords and corporates alike are embedding flexible space into their core strategies.”

The year also saw the highest number of new flex centre openings since 2019. A total of 283 new sites launched in 2024, while closures dropped by 15 percent. More than 80 new providers entered the market during the year, suggesting growing confidence in the model. Some cities showed notable momentum. Leeds, Copenhagen and Barcelona (pictured) were identified as hotspots for leasing activity, even as overall leasing by flex providers dipped slightly to 3.6 percent of all office take-up.

Looking ahead, the report anticipates continued growth in demand as traditional development slows and businesses seek more adaptable workspace options. However, the market is also facing rising expectations on service, sustainability and brand. “The key opportunity lies in helping clients adapt faster than their competitors,” said Andrew Hallissey, CEO of occupier services at Colliers. “That means thinking not only in terms of space, but also in terms of speed, scalability and experience.”