Companies, startups more inclined towards coworking spaces: Anarock

The share of co-working spaces in office real estate in India jumped to 27 per cent in the quarter ending March 31, 2023, from 14 per cent in the pre-pandemic quarter ending March 31, 2019, data from real estate consultancy Anarock showed on Tuesday.

In the top seven cities in India, there was a 90 per cent jump in net co-working space absorption in this period, from 1.3 million sq ft in Q4FY19 to 2.18 million sq ft in Q4FY23. Bengaluru and NCR together accounted for 66 per cent of net co-working absorption in Q4FY23.

“Coworking spaces demand weakened considerably after Covid-19 disrupted the workplaces equation across the country. We’re seeing a decisive reversal of this negative trend now,