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4. 3. 2024

Coworking is not just a trend, it is becoming an integral part of the modern work environment

The concept of shared workspaces is gaining in popularity; and not only among Prague-based freelancers, start-up companies and small entrepreneurs. It's also on the radar of large corporations who use it to house temporary offices or as an alternative to their corporate offices. It is also a great solution for companies looking for modern, well-equipped premises in an attractive location without having to invest in equipment and facilities themselves. However, coworking is not just about sharing physical space, it is also about sharing ideas, inspiration and collaboration between different professionals and companies. It is a phenomenon that offers many benefits and opportunities.

Dozens of operators and expanding offers

There are several dozen operators on the Czech shared office market, with almost every brand under a different operator. The concept has developed so far mainly in Prague, where large players such as Scott.Weber, IWG Group and Passerinvest dominate. During the past two years, local supply of shared offices has gradually expanded, with the total area of shared office space in Prague reaching around 120,000 m2. Although the growth rate is not staggering, supply is expanding. This is evidence of the growing interest in this concept.

Specific rental prices are dependent on tenants’ specific requirements. However, in general, the best private office workspaces in the city centre can start at €370 per workspace per month, while the rest of the market ranges between €200 and €350: depending on the location of the specific centre, requirements, number of employees and so on.

Traditional office vs. coworking

One of the main advantages of shared offices compared to traditional ones is flexibility. Flexible solutions allow users to adapt their working environment to their own needs and adjust it according to current requirements. This flexibility manifests itself in the possibility of short-term leases and the ability to use the space as needed. Another advantage often involves lower costs, as users do not have to pay for a fixed space that they do not use full-time. However, they still have access to the modern equipment and technology included in shared offices. This contributes to greater work efficiency and user comfort. An inspiring coworking community provides an environment for networking, sharing ideas and mutual support between professionals from different sectors. This interaction and collaboration can lead to new business opportunities and development of personal skills.

However, despite these advantages, it is important to bear in mind their potential drawbacks. Lack of privacy, limited control over the working environment, and difficulty in finding quality coworking spaces in other regions of the Czech Republic can be a challenge for many organisations. Despite these potential disadvantages, coworking can be an attractive alternative to traditional offices; especially in the context of growing telecommuting trends.

The growth of coworking and new trends in work culture

With the growing need for flexible workspace solutions, we expect demand for coworking to continue to grow. At the same time, there is increasing interest from international companies in concepts such as Hub & Spoke, where the main office (hub) is supplemented by smaller workstations or offices in other locations (spoke). This allows companies to decentralise their operations and workplace locations to better suit the needs of employees and customers in different regions. There is also the Flex & Core option, which allows companies to combine the flexibility of coworking with traditional office space. This model typically includes a basic, stable office space (core) for day-to-day operations and flexible coworking spaces for various projects, meetings or team expansion needs.

Will regional cities use this potential?

Regional cities in particular should respond to the growing demand, as they may represent a new market for coworking spaces. This is because there is often a lack of sufficient office space supply in these areas. By providing modern and flexible office space, these cities could attract new entrepreneurs and large international companies. Provision of such services would support the development of regional business while creating new opportunities in cities outside the country’s main metropolitan areas. Development of coworking spaces could make these regional cities more attractive and help them become dynamic centres of entrepreneurship and creativity.