Co-working spaces is lately becoming a catchword amongst businesses and organizations. With the global rise of entrepreneurship, freelance jobs, and hybrid work culture after COVID-19, Coworking spaces are now in demand. This creates a window of opportunity for real estate investors; investing in co-working spaces is certainly a lucrative option in these times.
Despite the rise in demand for shared offices, many real estate investors still hold apprehensions why they should invest in coworking spaces. This article will reveal how co-working spaces work? Why are they in demand? And what is the future of co-working spaces in the real estate sector?
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Reasons why co-working spaces are in demand
Coworking spaces offer a workplace that can be shared by different companies at lower cost. These spaces have a spectrum of utilities that are to be shared by the companies which allows cost savings. Coworking spaces are also known as on-demand workplaces and shared offices.
1. Cost Effective & Startup friendly
Startup businesses face many challenges besides financial ones. It is easier for new businesses to use co-working spaces instead of setting up an entire workplace that requires a daunting amount of time and money. Moreover, the company only has to pay a portion of electricity bills which is often added to the lease prices.
2. Best for Sole Businessmen
Sole Entrepreneurs occasionally need to have meetings with their client/s in an official setting. In this case, shared offices are the best option where they can arrange their meetings instead of establishing an entire workplace which is to be used rarely.
3. Fully Equipped Workplaces
Co-working spaces offer conference rooms, video conferencing facilities, internet, printers, scanners, and uninterrupted power supply. A person or a company with a bunch of employees only has to arrive at the shared workplace and get on with their tasks. This portrays the best solution for companies who don’t want to tie themselves to a fixed office. This saves the companies from the maintenance cost of offices.
4. A Flexible Option
If a company wants to hire more employees but doesn’t have much space in its office. The company is either bound to rent a bigger workplace or adjust the newcomers within the existing place which can leave the whole place congested. This is not the case with shared offices as companies can rent exactly the number of desks as per their need while they stay.
Why you should invest in co-working spaces?
It is evident that coworking spaces are the future as the demand for flexible workspaces is only rising. Real estate investors can seize this opportunity and invest in shared offices to earn rental income in the long run.
Do you intend to invest in co-working spaces in Islamabad? Co-working Spaces are available at installments in Beacon One and Beacon Two, new real estate projects by Beacon Investment located in Bahria Paradise Islamabad.