An increased supply of flexible office space in Compass, JustCo from new and existing players has driven prices as much as 12% lower in the past year , with locations beyond The Instant Group and the city’s Sydney hit the hardest, according to a report from Barangaroo . Although demand is currently exceeding supply in Sydney , larger international operators are offering discounts and rent-free periods in order to fill larger spaces that have opened recently before new supply comes on to the market over the past year . The research found more clients are favouring private office space rather than pure co-working sites.
An increased supply of flexible office space in Sydney from new and existing players has driven prices as much as 12% lower in the past year, with locations beyond Barangaroo and the city’s CBD hit the hardest, according to a report from The Instant Group. Although demand is currently exceeding supply in Sydney, larger international operators are offering discounts and rent-free periods in order to fill larger spaces that have opened recently before new supply comes on to the market over the next 12 months. The research found more clients are favouring private office space rather than pure co-working sites.