Fewer, but more flexible, offices
WHAT: Swedish companies are now looking for smaller offices with only 5-10kvm/employee, and with more flexible lease than before (less than 5-10yrs). This was an existing trend which has rapidly developed following the Covid-19 pandemic and the increase in remote working. The demand for offices under 100kvm has gone up by 24%, and demand for offices over 300kvm has gone down by 23%. Currently 3% of Stockholm offices are co-working space, the potential is believed to be at least 30%.
SO WHAT: There is less need for companies to invest large amounts of money in long-term office space rental. Investments can go elsewhere and money is better placed in coworking spaces or smaller offices, alongside investment in remote work provisions. A survey of 30 large companies based in Stockholm found that all are implementing some kind of office-space reduction, with more people working from home and more interest in saving money on office rental. Greater interest is placed on communal workspace, since individual work can be performed at home.
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