Coworking spaces are gaining more and more popularity in the real estate market of Valencia and its metropolitan community region in particular. The flexibility, quality and comfort they offer both in terms of space used, as well as in terms of tariffs and prices, makes them an increasingly attractive alternative to traditional office buildings. The promotion of the remote work format and flexible employment system led to an increase in demand for offices of this type, which sparked a special appetite among real estate investors.
The penetration of this model in Spain remains high and about 2,000 "flexible" office centers are already operating throughout the country. Madrid and Barcelona are still the cities that account for more than half of such a supply and where the special interest of large operators is emphasized. However, cities such as Valencia and Malaga are gradually gaining more and more market share.
The situation is well reflected in the report "The State of the coworking industry in Spain in 2022-23", which was presented in Valencia as part of the XII Coworking Spain Conference 2023 (CWSC). This event brings together representatives of the entire industry, more than 200 people took part in it, 32 national and international speakers, key players in this segment, gave a speech.
The report confirmed the boom of coworking in recent years. At the moment, 1,092 office facilities for this area have been created throughout Spain. Their average area is 643 square meters. Manuel Zea, CEO of CoworkingSpain and organizer of CWSC pointed out: "The growth of the sector this year is due to the large supply on the market from large developers and the high demand of companies practicing coworking and in need of flexible spaces. International large corporations are also increasingly interested in this segment of the Spanish real estate market".
However, due to the fact that investments in the commercial sector are traditionally concentrated in Barcelona and Madrid, they are still the exceptional leaders in the development of this office market. They account for a total of 540 office centers of this category. Barcelona has 315 facilities, 231 of which are located in the city of Barcelona itself. The Madrid region accounts for 225 properties and the capital of the same name — 181 of this number. In third place is Valencia with 67 objects in the region and 56 of them are located in the capital of the same name. Valencia is followed by Malaga with 42 properties, Alicante with 34 properties and Seville with 32 objects.