2022 was a powerful year for coworking, with major changes in how businesses viewed office space post-pandemic fueling market recovery in cities around the globe. Data from yta.se, Sweden’s premier marketplace for flexible workspace, showed that preliminary figures from coworking providers’ annual reports revealed the largest revenue increase yet.
As a result of this growth, 32 facilities spanning over 60,000 square meters opened throughout Stockholm in 2022, although this speedy expansion caused occupancy rates to drop from 85% to 69% within the city’s toll boundary.
How does Sweden’s coworking market look in 2023? As we move through this time of great change, early signs point to this year being the most successful yet. The latest market report from yta.se found occupancy rates across Sweden’s major cities are returning to their highest levels.
In particular, coworking occupancy rates in Stockholm, Gothenburg, and Malmö increased significantly in Q2. This data spans over 115,000 square meters of space with up-to-date vacancy status in yta.se’s database. This is a measure of the square meters of vacant office space compared to the total lettable area excluding lounges and meeting rooms.
In Stockholm’s Central Business District (CBD), the occupancy rate jumped to 82%. Areas within the toll boundary but outside the CBD recorded an occupancy rate of 81%, while areas outside the toll boundary registered an occupancy rate of 65%. In the past, operators have reported a shortage of spaces when the rate crosses 80%. The pace of expansion may be influenced by this.
The occupancy rates in Malmö and Gothenburg also increased, rising by 73% and 76%, respectively.
To read the full market report, which also includes an analysis of Swedish operator openings and revenue growth in 2022-23, visit here.