The coworking space is all about a concept that involves sharing of work between different startups or individual. This trend was first implemented in western countries. Slowly, this concept is gaining a rise in Indian commercial real estate also. It has changed the way of serviced office works. The main reason for preferring coworking spaces is the lower monthly rentals and flexibility in the work environment. This is highly beneficial for those who’ve just started their startups. These days, coworking space is the hot topic in the commercial real estate sector. If you wish to know more about this concept then read this blog article about property investment at smartowner.
The trend of co-working spaces is gaining popularity in India. There’re many future aspects that have been predicted for this concept of sharing the working spaces. Let’s see what the future aspects of this concept in India are:
There’ll a huge demand of commercial space of coworking space
It is being predicted by the experts that this concept of workspace sharing will help in growing the demand for office space. This will be highly beneficial for the landlord in terms of monthly rentals.
- There’ll ease of starting an office
Starting an office a bit tedious job as it involves managing all the work right from employees to the electricity bills. One thing that can help the people in setting up their startups is the coworking space concept. According to the market experts, it has been predicted that the coworking office facility will help in easily starting an office in the perfect place. Not just this, it will also cut the working cost of the office for any new startup. As per statistics, many companies are known to saved 20-30 per cent operational costs by choosing the option of the coworking concept.
- Flexibility in leasing
Some market experts are predicting that co-working space will become the largest growing market in the years to come because of flexibility in leasing. With conventional offices, there’s a limitation of the commercial lease which gets locked for 5 to 15 years which completely restricts the flexibility in the leasing option. But, you won’t be facing this problem of flexibility with coworking spaces as they ensure occupancy as per the requirement of the business owner.
- Coworking spaces will make up for the conventional offices
Experts say that both offices will make up for each other. It is known that new business owners will start in a coworking space and will get into a conventional office as the company will grow and more employees will be added.
- Involvement of big investors
The growth and the rising trend of the concept of co-working spaces will also make the big investors get into this. Right from startups to established entities, investors would like to invest in them.
Coworking spaces are growing in the Indian commercial real estate because of low operational costs and monthly rentals. This trend will surely help in increasing the market size, the involvement of big investors and flexibility of leasing in the future.