Where are the key European co-working hotspots?

London, Paris and Stockholm are the top three European cities for co-working, according to a new report. The study, compiled by Cushman & Wakefield, identified the cities by looking at factors including scale, business environment and people. Dublin and Copenhagen were also among the top five. Other prominent cities were Munich, Berlin, Helsinki, Amsterdam and Madrid. Globally, London and New York account for 22% of all co-working stock. It is the first time Cushman has created a European co-working hotspot index of 10 key markets. More than 40 cities were initially analysed and “scored”. Elisabeth Troni, Cushman’s head of EMEA research and insight, said: “We expect demand for co-working to be strong in our featured hotspot markets and would recommend that co-working operators and office landlords and investors alike adopt a proactive strategy to managing their response to these dynamics.” London is Europe’s largest co-working market, measured by volume of office stock (4.6%) leased by co-working operators. In continental Europe, Cushman estimates co-working space in most major office markets accounts for no more than 2% of the overall stock. Amsterdam is an exception: co-working is estimated to be around 6% of the total office stock. The impact of co-working on the London leasing market has been particularly significant, with WeWork now the largest private office tenant. Leasing activity by co-working operators in the city has ranged from 10% to 20% of quarterly take-up for the past few years, bolstering leasing figures considerably. Main image © Photo Alto/Rex/Shutterstock To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette