As the coworking industry continues to develop across second and third-tier cities, shared offices are growing in appeal. With the average price for a monthly hot desk rental reaching $206 USD (up from $189 in 2021), competition is ripe as spaces see rising demand from corporate clients and companies using a hub-and-spoke model of work.
In our latest report, the 2022 Hot Desk Price Index, we examine the evolution and maturation of coworking markets around the world. By taking a data-led view of the industry as a whole, the report illuminates the most and least expensive cities and countries for coworking—a useful metric for operators looking to expand or develop new opportunities.
Our Analysis – Most Expensive Cities for Coworking 2022
In this year’s Hot Desk Price Index, we examined the average monthly hot desk prices of more than 19,500 coworking spaces in 172 countries and across six continents based on data provided by Coworker.
Interestingly, the cities that emerged as the most expensive locations for monthly hot desk rentals were consistent with years prior.
In 2022, the top five most expensive cities included Zug, Switzerland ($439 USD), Santa Monica, California ($431 USD), Zurich, Switzerland ($428 USD), Geneva, Switzerland ($366 USD), and Bern, Switzerland ($365 USD).
Since 2019, both Santa Monica and Zurich were included in the top five ranking of most expensive cities, speaking to the notoriously steep real estate prices of California and Switzerland.
In fact, eight out of the top 10 cities with the highest average desk prices were in Switzerland, including Basel, Berne, Geneva, Lausanne, Lucerne, Winterthur, Zug, and Zurich, while two out of the top 10 were in California, including Santa Monica and San Francisco.
To read a detailed analysis of what these statistics reveal about the industry at large, download the full 2022 Hot Desk Price Index report.