Record growth for the Swedish coworking market
After years of insecurity following the covid-19 pandemic, the Stockholm coworking market has now risen to new heights according to data from the coworking marketplace yta.se.
Following last year's predictions, this year's coworking report shows that the Stockholm supply has risen 22% over the last year, now exceeding 371 000 m2, or 3.5% of the total stock in larger Stockholm. Even though the total supply has risen violently in Stockholm the occupancy rates are at record levels; in Q1 they were at an all time high of 85% to then draw back to 82% in Q2 due to the insurge of new supply. This is to be compared with last year's numbers, where the occupancy rate was at 60%.
The large influx of new spaces, as well as turbulence in the first year of the Covid-19 pandemic, led to a decline in operator revenue for the first time in 2020, declining by 1%. In 2021 the market rebounded slightly and grew revenue by 16% to €150,000,000. However, all the market data treated in this report suggest 2022 delivering an all time high revenue growth, the prognosis showing a revenue growth of 30%.
Other findings suggest that the market is growing outside of the capital market, whereas a large portion of the operators are looking to expand into the Stockholm suburbs as well as to other cities. Gothenburg is identified as one of the primary cities operators are looking to expand.
About the report
The data used for this report comes primarily from yta.se’s proprietary marketplace covering over 6100 office rooms in coworking locations, as well as surveys to the coworking operators accounting for more than 240 000 m2 of the total supply in Stockholm.