Just a few years ago coworking was regarded as a fad catering to tech start-ups and solopreneurs in search of affordable space and a collaborative environment. Fast forward to today and coworking is a cornerstone of a new business ecosystem transforming corporate real estate and the way people work.
While considerable time has been spent explaining the evolution of coworking, tracing its footprint and analysing its adoption by enterprise users, there has been relatively little discussion of its impact on property valuation, largely due to a lack of hard data on a trend that is still at a nascent stage.
However as more investors and landlords recognise the strategic value of coworking and introduce operators into their portfolios there is growing demand for appraisals of the impact that flexible space, specifically coworking can have on building value.
This ViewPoint draws upon recent CBRE Research studies and CBRE Valuation & Advisory Service expertise to provide an assessment of the impact of coworking on property valuation in Asia Pacific