After facing a downturn brought on by the consequences of Covid-19, the coworking and flex office industry is recovering gradually in countries across the globe. With the average price for a monthly hot desk rental in 2022 reaching $206 USD (up from $189 in 2021), spaces are witnessing new demand from corporate clients and companies adopting a hybrid model of work. After years of steady progress, the rise of remote work has finally made coworking mainstream on every continent.
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 evolution of coworking pricing continent by continent between 2018 and 2022.
Our Analysis – Monthly Price Evolution by Continent
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.
As this was our fourth annual Hot Desk Price Index report, we were able to compare costs between each continent and show how prices have matured over a period of five years.
In 2022, Oceania (representing Australia and New Zealand’s markets) demonstrated the highest monthly average desk prices, reaching $285 USD per month. This data is consistent with Oceania’s pricing from past years; the continent has ranked most expensive in comparison to all other continents since 2018.
By contrast, monthly coworking hot desk prices in Africa have remained on the lowest end of the spectrum among continents. In 2018, Africa’s average monthly price was $112. This number rose slightly to $116/month in 2019, fell to $110/month in 2020, rose to $112/month in 2021, and this year, rose to $127/month. This may suggest that the competition in Africa’s market is growing, as more spaces offer higher pricing.
Also in 2022’s report, every continent with the exception of North America showed an increased average monthly desk price. In North America, the average price decreased by -1.2% from $249 to $246.
To read a detailed analysis of what these continent-based statistics reveal about the industry at large, download the free 2022 Hot Desk Price Index report.