Research & Insights

In the third quarter of 2022, 5 new flexible spaces opened and 4 closed. Since 2021, there have been 18 openings and 11 closures. Currently, two-thirds of all operational flexible spaces opened since the start of 2020. The market is currently experiencing closures of low-quality flexible spaces, while high-quality flexible spaces are seeing record low vacancy rates. A-class developments are experiencing an average of 6% vacancy rates, as of the latest data.