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- Category: Coworking Industry
Mr Fleming expects traditional landlords to enter the co-working space this year, with more opening their own spaces or collaborate with operators in an effort to activate their buildings.
About 50 per cent of desk demand will come from large companies with the average co-working tenant likely to occupy 10 desks or more, Instant Group says.
Top provider WeWork will continue to expand in Australia while Singapore’s Justco is set to make an entry.
“We’ll also see a rise in facilities provided as spaces push the limits of office inclusions from fresh towel service, golf simulators, sleep pods, exercise and mediation rooms, recording booths and beyond,” Mr Fleming said.
But while Australia and India will boom in this real estate class, the largest flexible office markets in the world – New York, London and Hong Kong – are likely to reduce their co-working desk rates in 2019 as a period of oversupply takes over.
Australia too can reach an oversupply but not for another three years, Mr Fleming says.