New report reveals New York City and Boston are the most expensive cities in North America, and many cities have supply/demand imbalance for flexible workspace.
Across the North America flexible office market, meeting room booking demand was up 26 percent between 2021 and 2022, flex contract lengths have increased by 40 percent and average occupier size has increased by 19 percent (2023 vs. pre-pandemic).
Demand for meeting room bookings is up 26 percent between 2021 and 2022 as collaboration becomes the main goal of the office and workspaces. Average contract lengths in the flexible workspace sector have increased by 40 percent in 2023 compared to pre-pandemic, while average occupier size has increased 19 percent over the same period.
Across North America, demand for flexible offices dipped one percent in Q1 2023 over Q4 2022 after the surge in demand throughout 2022 which saw demand levels 57 percent above those seen pre-pandemic (2019).
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