10 Co-working Trends you need to know for 2024 

Both remote and hybrid work have brought new needs for workers, companies and society. Mainly, they demand flexibility, not only in how they work but also in how they live. It’s important to keep up with the trends and demands to help grow your business. Here are our top 10 co-working trends for 2024: 

1.    Co-living and Co-working fusion – Flex Living 

The demand for flexibility in work and living is causing office and home concepts to merge. As a result, a new hybrid model is emerging that unites co-living, producing a positive impact on society, the economy and the environment by optimising available space, providing affordability, reducing emissions and waste (avoiding commuting), as well as providing a meaningful community, among many other benefits. In addition, co-working places host a community of varying professionals, this diversity enhances and enriches the quality of the co-working community.  

2.    Growth of the on-demand product 

Reports from 2023 show a 9% increase in flexi product demand which is expected to continue growing.  This growth is driven by new hybrid work strategies, unrestricted geographical recruitment and more companies offering co-working memberships. The trend is further propelled by the increasing availability of flexible plans.  

3.    Community connection 

Flexilble spaces are not just four walls and desks. They are becoming more than just work hubs – they’re dynamic communities, embracing innovation, sustainability, and a dash of futursitic charm, fostering collaboration and making the workplace an enjoyable team experience. 

4.    Campfire Atmosphere 

Co-working spaces can achieve long-term success by focusing on the campfire atmosphere principle: To attract members, co-working spaces prioritise creating a social and enjoyable atmosphere. With the rise of remote work, spaces may face underutilisation on low traffic days like Mondays and Fridays. However, to counter this, spaces can draw inspiration from successful models, particularly targeting freelancers, who remain a significant group in co-working spaces.  

5.    Goodbye to the traditional office 

The need for large traditional offices is in decline, and co-working (or smaller office space) is on the rise because co-working offers more attractive advantages in terms of cost and efficiency. In addition, with the introduction of hybrid working, many offices find themselves with completely unused space, whereas in a co-working space, they pay for what they use.  

Why companies are migrating to co-working: 

• It no longer makes sense to prolong expensive, long office leases with unused space
• Because of the market uncertainty caused by the pandemic, wars, natural disasters and force majeurs
• Companies are integrating co-working as a recruitment strategy to attract and retain talent

6.    Co-working spaces close to home 

A huge percentage of co-working users look for a workspace close to home. Following the 15-minute city concept, people choose to work close to home, and somewhere they can drive to so as not to waste time commuting unnecessarily from home to work. This allows for a much more productive day as less time is spent travelling to and from work, and more time is being spent working

7.    Growth on booking platforms  

By advertising on booking platforms such as flexioffices and flexspace ensures it is quick and easy to search and find available co-working spaces in your area often at the last minute. Many co-working providers have negotiated partnerships with local businesses to provide flexible work space as and when they need it.  

8.    Third places co-working 

The normalisation of Work From Everywhere and the choice of when and where we want to work has given rise to the so-called Third Places, which are more informal and social alternatives to offices, such as hotel lobbies, cafes, and workspaces in gyms or shopping centres. In other words, all those spaces that integrate co-working as an added service.   

9.    Sustainability  

Sustainability is a major topic of discussion in all industries around the world today, with co-working and co-living industries part of the movement. Many introduce and promote best practices that foster sustainability in all its three forms (economic, environmental and social). Eco-conscious co-working spaces have a huge advantage and attract socially conscious people, becoming an important selling point.  

10.    Differentiate between two co-working persona  

Co-working is experiencing a split between larger, corporate-focused spaces and smaller, boutique setups with users of the flexi/co-working office falling into these two main groups: 

• Corporations and tech startups: These companies are recreating the traditional HQ experience with smaller footprints as they move towards hybrid working models. They are looking for shorter lease terms and smaller square footage. 
• Remote workers, digital nomads, freelancers, entrepreneurs, solopreneurs, and bootstrapped startups: These are users looking for greater flexibility, smaller packages tailored to their needs, more collaboration spaces, and a strong emphasis on community and services.  

Remote working is here to stay, but consequently peoples needs have had to change. In conclusion, flexibility and user experience have become the most demand differential elements of value in the co-working sector.