Flexible office space across EMEA is entering a new era, with the region’s flex inventory growing to a record 8.3 million m² in 2024, according to Colliers’ latest report, Flexpansion: The Architecture of Agility. The shift marks a turning point as occupiers increasingly move away from coworking models and towards highly customisable, managed solutions tailored for corporate-grade agility.
Despite high construction costs and economic headwinds, over 348,000 m² of new flex space was added across 46 markets in 2024, representing a 4.4% year-on-year increase. The demand is being driven by global corporates seeking shorter lease commitments, superior amenity packages and workspace flexibility in both core and emerging cities like Riga, Athens and Tallinn. The trend is also catalysing the adaptive reuse of heritage buildings, offering a compelling opportunity for developers and landlords to repurpose underutilised stock.
“What we’re witnessing is the evolution of flex from a coworking-led trend into a mature, strategic pillar of corporate real estate,” said Andrew Hallissey, CEO – Occupiers Services | Global & EMEA at Colliers. “Occupiers are demanding more control, privacy and service - and flex providers are answering that call with highly tailored, amenity-rich solutions that rival traditional offices in quality and brand experience.”
Flex operators opened 283 new centres in 2024, the highest figure since 2019, while closures dropped by 15%. More than 80 new providers entered the market, highlighting renewed investor appetite despite inflationary pressure. While flex leasing accounted for 3.6% of total office take-up, cities like Leeds, Copenhagen and Barcelona are seeing an outsized share of activity, pointing to a wider regional rebalancing.
As traditional office pipelines tighten under ESG constraints and financing limitations, flexible space is becoming a critical release valve. The flex model offers developers and investors a chance to future-proof portfolios, reduce void periods and meet evolving tenant expectations in a market where location, experience and ESG performance are non-negotiable.
“Flex has become a lever for workplace transformation,” said James Walton, Director, Head of Global Flex Advisory, EMEA Occupier Services at Colliers. “Landlords and corporates alike are embedding flexible space into their core strategies, and that’s reshaping how offices are designed, delivered and activated across Europe and beyond.”
Read the full Flexpansion: The Architecture of Agility report here.
People mentioned:
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Andrew Hallissey, CEO – Occupiers Services | Global & EMEA, Colliers
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James Walton, Director, Head of Global Flex Advisory, EMEA Occupier Services, Colliers
Companies mentioned:
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Colliers, real estate advisory and research
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