Published in Market trends
How coworking spaces are shaping modern living
An exploration of how coworking spaces have transformed modern living by fostering community, flexibility, and convenience while integrating into luxury residential developments
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The rise of remote work during and post covid is well documented, with companies offering higher levels of flexibility to workers and the lines of home and work being even more blurred. In tandem with this rise is the increase in coworking spaces as people seek to separate work and home lives whilst also seeking a sense of community. Whilst there is now a decline in work from home trends, and companies are shifting back to a physical presence, they are often using coworking spaces as an alternative to a dedicated office.
Evolution of coworking spaces
Coworking spaces have experienced exponential growth, transforming from niche hubs into a $16.17 billion global industry in 2023, with projections to exceed $30 billion by 2030 (Statista, 2023). What began with freelancers working in cafés expanded to dedicated spaces used by startups and freelancers and are now utilized by companies of all sizes.
Coworking spaces have evolved since the original ‘hackerspace’ founded in Berlin in 1995, from free internet in cafés to the integration of podcast rooms, wellness amenities including meditation areas and gyms.
The intersection of coworking spaces and residential living
Coworking spaces are no longer confined to CBDs and commercial areas, they are being integrated directly into luxury residential developments.
For example, in Barcelona and Madrid, residential complexes now feature coworking lounges equipped with high-speed internet, conference rooms, and even coffee bars. In Barcelona the Sant Martí Residences feature a coworking space among other amenities.
This trend has become a strong selling point, especially for international buyers and young professionals seeking flexibility without sacrificing comfort.
Why coworking spaces appeal to modern property buyers
Flexible workspaces as a key selling point for young professionals, entrepreneurs, and expats.
The role of coworking spaces in fostering community and networking.
Added convenience: work-life balance without leaving your building or neighbourhood.
The integration of coworking spaces into residential developments offers several key benefits that resonate with today’s buyers:
Flexibility and Convenience: Having a coworking space within a residential property eliminates commuting time, allowing the time saving of working from home whilst still moving to a dedicated work space
Community Building: Coworking fosters connections and networking opportunities among residents, creating a collaborative atmosphere
Appeal to Expats and Remote Professionals: Spain is one of Europe’s top destinations for digital nomads and buyers are looking for spaces to work that are close to home and can work with schedules that may span over several timezones
Research shows that 83% of workers feel less lonely in coworking environments, and 89% report being happier (Harvard Business Review, 2022).
Conclusion
Coworking spaces are no longer just a workplace solution; they’re shaping the way we live, work, and connect. For property buyers, they represent an opportunity to embrace a modern, flexible lifestyle and are an increasingly important amenity that is considered when purchasing.
The integration of coworking spaces into real estate is set to grow. By 2028, it’s estimated that 30% of office spaces globally will be flexible (Cushman & Wakefield, 2023). For luxury developments, coworking amenities will be increasingly tailored to residents needs, offering personalised workspaces, wellness features, and exclusive networking events.
