Co-Working Space Taking Over Bengaluru Commercial Realty Market

According to a latest survey report by global research firms, IWG and Spaces, it has been revealed that the co-working culture is taking over the commercial real estate market in the IT city Bengaluru. The survey said that around 60% of working professionals prefer to work in their own private space. These spaces include cafes; home or client offices.

The report said that approximately 95% of professionals believe that flexible working space helps in their business growth. It enhances employee’s productivity too.

Highlighting the importance of this survey, a real estate expert suggested that more than two-thirds of global employees work remotely every week. This trend reflects the changing work culture in India. Bengaluru being the IT hub is leading the race with many corporates and start-ups driving the demand for workspaces.

The expert further said that this indicates that these days working professionals prefer more flexibility that a co-working space provides.

Moreover, the report stated that around 84% of the Bengaluru employers believe that co-working has helped them in finding good talents that further improved their profits. Also, 95% believed that flexible working helps employees in enhancing relationships with other staff members, boost job satisfaction and increases their creativity.

While Bengaluru has many co-working locations, Marthahalli (66%) followed by MG Road (48%) and Electronic City (52%) emerged as hot favourites among working professionals.

The trend of Co-working is gaining momentum in Indian real estate with many global firms like CoWrks, WeWork, and IWG expanding their arms by establishing their offices in various Indian Cities.