Kim Hogan shares data from Savills and Workthere that notes that "European flex office take-up accounted for 4% of total office take-up in H1 2023, down from the 8% peak recorded during 2019 and from the 7% level recorded in H1 2022."

The slower take-up (ie how much of office space was taken by flex space providers) wasn't attributed to a slow in demand for flex space, but instead noted limitations on the availability of good quality space, more management agreements vs traditional leases, and aiming for higher occupancy first as the main dragnets on growth.