The rise of coworking has led to a proliferation of businesses that cater to the needs of their customers by offering different work styles. Coworking rates vary depending on the services and locations.
Who are the coworking players?
Those in the restaurant industry were the first to use the laptop, wifi and mobile working to create a business when coworking was introduced. High-speed wifi, printers and scanners were added to the restaurant-related services they were providing.
Then along came a group known as the “First Generation” that supported an alternative way of working that emphasized the importance of social connections and community, social bonding between employees on the go, and sharing among startups.
Real estate players have caught on to the coworking trend and are now offering a wider range of real estate services accordingly. Business centers and subsidiaries of large real estate groups constitute the majority of the coworking market.
The goal of coworking is to find a balance between work and personal life
This influx of new players caters to both individuals working alone and companies of all sizes, from small businesses to large companies and everything in between.
Larger companies are becoming more flexible in their office space requirements due to increased demand. This generation’s spaces are less free and more business-oriented than the previous generation’s.
Different types of spaces are available, such as open and closed meeting rooms of varying sizes, as well as private bubbles where people can work or talk on the phone in peace. Taking care of employees’ well-being is an important part of the coworking ethos, even though the ultimate goal is to boost productivity.
To do this, new codes are being implemented in companies, such as social spaces for workers to meet, cafeterias, event spaces, game rooms and rest areas.
This type of atmosphere can also be seen in smaller coworking spaces, which cater to startups by providing a meeting space where employees can get to know each other.
How much do coworking rates cost?
There is a wide range of players, locations and services. Variable coworking rates are justified by so many factors: by the hour, by the day or by the month, for a meeting room, a conference room, a private office or an open space with or without a workstation, depending on the type of space and the type of event.
It is therefore difficult to put a precise figure on something when at the Color Business Center in Luxembourg, the rate for a private office starts at €495 per month and that of a coworking space at only €195. We are always at your service!
