For some businesses, cost is still a major factor in their decision-making process, which is reflected in the occupancy rates of more traditional, value-driven spaces with an average occupancy rate of 80%. Every model and workspace is different, so the exact rate will depend on how the rentable square footage (RSF) is divided between common areas, corridors, private offices and coworking spaces. The shared office space market has seen a surge in recent years, with new competitors such as commercial real estate giants, property management companies and amateur co-workers entering the scene. As mentioned earlier, the daily utilization rate dropped significantly in coworking spaces with a large number of private offices during the first lockdown.
However, in practice, during the second lockdown, members of these coworking spaces were still much less likely to work in their offices than members of other coworking spaces.