As a result of the COVID-19 outbreak, several businesses have demonstrated that they can operate successfully from remote locations. Even though the notion of a coworking space is relatively new in the commercial real estate industry, there has been significant debate regarding whether it is now obsolete.
Commercial real estate professionals, in particular, rely on these work spaces to conduct business and build relationships with colleagues and clients. Real estate professionals will continue to rely on a new sort of coworking space in the future, despite the fact that many features of working in an office will change.
In the coming months and years, the coworking landscape will look like the following:
Make health and safety a priority
70 percent of Luxembourg’s office spaces had at least a partially open design plan at the start of the first quarter of 2020. There has been an increase in demand for offices that were originally meant to support private work while huge corporations have hurried to build new walls and Plexiglas office barriers.
The physical structure and amount of meeting rooms will be drastically altered for professionals returning to a shared office environment. It doesn’t matter if it’s subconscious or explicit, social distance and one-way traffic patterns are becoming more commonplace, from the grocery store to the workplace.
The trend is set by the residential sector
A look at how the residential real estate market operates can reveal who is in search of shared office space for business purposes.
Before COVID-19, several smaller residential real estate businesses had already begun downsizing.
Rather than building their own offices from scratch, several of these agencies have taken advantage of more flexible workspaces. Pandemic-related trends were also increased in all industries.
Residential real estate brokers are flocking to shared workspaces for a variety of reasons.
As the economy continues to fluctuate, short-term leases are becoming more popular.
Shared workspaces allow businesses to scale up or down their office space as their needs evolve.
Downtown locations are appealing and convenient for agents who use coworking spaces. For customers who want to know exactly where they are going prior to any in-person encounters, this holds true even in the context of COVID-19.
With updated public safety rules, professional coworking spaces will become increasingly attractive for people seeking private chats in a relaxed setting without fear of being overheard.
Home offices, as anyone with children knows, are no substitute for a professional workplace environment that encourages concentrated concentration.. Professionals who need to work outside of their homes can benefit from coworking spaces, even in the face of the greatest public health crisis in decades.
Many businesses are already looking for new office space as towns implement their own gradual reopening plans and regulations, and flexibility is a major factor in the search.
Businesses of all sizes should evaluate how a reduced office footprint would appear and how it can work as the global workforce adapts and responds to the current economic crisis.
The residential sector has been ahead of the curve when it comes to the emergence of professional coworking spaces.
Shorter leases and a new focus on providing separate, safe office spaces in changing downtowns across the country go hand-in-hand with an agile approach to workforce planning. Despite the demise of the traditional workplace model, professional coworking spaces are on the upswing.