The United States' ongoing battle with the coronavirus has slashed flexible offices' occupancy rates and decreased short-term optimism in the industry, according to a new survey. However, their pessimism wasn't mirrored across the globe.

The third "Global Flexible Office Sentiment Survey" was released by Workthere, an online platform that lists co-working providers in various international and U.S. markets. Workthere surveyed 92 flexible offices located in 12 countries, including the United States, Canada, France, Germany and Hong Kong.

Conducted in July, global optimism toward the sector in the next three months was down slightly from 42% in May to 40%. However, only 30% of North American flex office providers had short-term optimism in the market, compared to 59% in May, Workthere found. The decline in optimism is potentially driven by an uptick in members seeking rent relief, up to 39% compared to 33% in May and more members not renewing contracts (from 19% in May to 28% in August's report), according to Workthere.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Victoria Hudgins

I am a reporter for Legaltech News where I cover data privacy, cybersecurity and technology's impact on the business and practice of law.