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The notion of coworking spaces being cheaper alternative to office buildings is no longer true. Coworking spaces are fast becoming the ideal choice for tech startup and corporates.

Coworking spaces are essentially shared workspaces. They offer affordable office space for those looking to escape the isolation of a home office or coffee shop.

What’s driving the success of coworking spaces?

The shift from Ownership to Experience

As stated in our previous post “The new trend of experience-based workplace”.

There are a number of reasons why experience-based workplace is being favored these days, but the most apparent (and proven) one is that millennials, the main working group, prefer experience to ownership, according to a recent Harris study for Eventbrite. They want to work at a place that checks all the their boxes, even with little attachment, instead of being soldered to one with compromises here and there.

Greater flexibility

Research shows a growing trend of workers seeking greater flexibility in the workplace. They want to make choices of where to work, how to work, when to work, etc. Coworking spaces forgo the traditional, often rigid design of conventional offices in favor of a more open, easily accessible and dynamic environment.

Sense of community

Walk into a coworking space and you’ll immediately notice that it feels different from a regular office. The smell of fresh coffee in the air is second only to the energetic atmosphere that the occupants bring to the space. You’ll see a mix of those in deep focus at private desks and others engaging conversations at large shared tables. This is the culture of the coworking space.

In addition to culture, cost is another big draw. One of the advantages of these spaces is the ability to rent out only what you need vs an entire private office space, which can be costly. Through various membership based models, costs vary and allow for flexibility. These include options for daily fees or monthly fees. Membership costs also differ based on whether you use a shared desk or want a dedicated one.

If you want to learn more, be sure to check out some of our coworking projects here!

Romain DUVAL