India has been declared the cheapest flexible office location in the world to operate. In a recent survey, New York has been considered the most expensive location to operate flexible offices. The costliest office location in the world includes New York, San Francisco, London, Singapore, and Berlin ranging from Rs.60,000 to Rs.72,000. Taking India into consideration, Mumbai has been the costliest flexible office location with an average price of Rs.20,420 followed by the National capital Region with an average price of Rs.14,759.
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In the Asia Pacific Region, India has been defined as one of the largest office workspaces. Many IT/ITeS, Banking, and Financial Institutions, and Consultancy firms have created a demand for flexible office workspaces. Altogether, there are 125000 total seats in India and major operators include Awfis, WeWork, CoWrks, Smartworks, and Tablespace.
The rise in demand for office workspaces in India has also boosted the economy as well as startups. The reason behind this rise is that many employees see time and distance as one the major issues to deal with. To overcome this hurdle, a high demand concentration is seen in suburbs and the outskirts of the cities.
