Friday, 12 May 2023, 16:48
The flood of technology companies and freelance entrepreneurs and professionals seen in Malaga has not gone unnoticed by the large flexible office space operators, who have made the city their third point of expansion in Spain, after Madrid and Barcelona.
A study carried out by real estate company CBRE looked at the increase of flexible coworking offices in Spain and found that 4,000 square metres in Malaga city accounted for these coworking spaces, with an occupancy rate of 90%.
"Operators are looking for more square metres, although there is a lack of attractive available space for this sector in Malaga," the study pointed out.
In Malaga, operators such as Impact Hub, which this month opened its third coworking space in the city, located on Calle Hilera and with a capacity for 200 workstations, is an example of the type of operations operators are interested in.
"Given the gradual recovery of the market and the good performance of hiring, operators of flexible spaces maintain their expansion plans, highlighting the high interest not only in Madrid and Barcelona but also in cities such as Valencia, Seville and Malaga,” CBRE said.
The average occupancy rate of flexible coworking offices in Madrid is at 84%, higher than the same period last year (82%). In Barcelona, it was at 81% compared to 78% in the first quarter of 2022.
Madrid has more than 230,000 sqm of flexible office space, equivalent to 23,460 workstations, compared to 21,560 in the same period last year.
In the Catalan capital, more than 220,000 sqm were occupied by flexible offices, which represents 3.5% of the city’s total office space, an increase of 6% compared to the first quarter of 2022.
The highest occupancy rate in Spain (98%) is in Valencia, where there are more than 600 coworking or flexible office spaces, which covers an area of 6,100 sqm.
Head of agile practice at CBRE Spain Salvador Aguilar said: "These values show that the market enjoys stability and great potential for growth, being a sector in continuous expansion.
“It is worth highlighting not only the dynamism in Madrid and Barcelona, but also in other important cities such as Seville, Malaga and Valencia, where we are seeing great activity and interest from operators.”
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