How Coworking Spaces Are Reshaping The Real Estate Industry

How Coworking Spacesare Reshaping the Real Estate Industry

Novel Property Ventures

Real estate industry may undergo a shift in

business due to the rise of coworking

spaces in city neighborhoods.

Coworking companies allow for small

businesses, startups, freelancers and

entrepreneurs to rent space in a collaborative,

comfortable and affordable setting.

Coworking spaces embody all of the assets of a

great office without the high overhead investment.

Here are three ways coworking spaces are likely to

impact the real estate industry

Energizing neighborhoods1.

Coworking spaces create buzz and excitement,

and may draw in new residents and commuters

to up-and-coming neighborhoods.

An influx of residents and commuters means that

local businesses in the periphery will benefit from

more foot traffic and patronage.

Growing in size and value2.

There’s always risk in leasing coworking spaces,

which are inherently unstable.

Fortunately, coworking spaces have been

booming consistently, with space doubling

every year for the past five years.

A model to emulate3.

One thing is abundantly clear:

the traditional office is losing its appeal.

Real estate developers can use this model to

their advantage by offering more flexible

spaces with malleable leases.

Whatever the case, shared offices are, for many, a

welcome addition to city real estate.

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