Over the course of the last years coworking has taken the Belgian office market by storm and it is expected to gain even more momentum as new generations and government lead programmes, such as the Coworking|Digital Wallonia initiative, drive new trends on how people work and interact with each other. Not surprisingly, 2017 was declared the Year of Coworking in Belgium.
Hive5 is a shared coworking space in the centre of Brussels. It offers a spacious coworking area, event and meeting rooms, private offices in a professional environment. Hive5 is a community-driven business space for creative startups, entrepreneurs and freelancers.
Reports suggest that the boom of the coworking market has been one of the main driving forces behind the latest positive office market performance, especially in Brussels. Across the Belgian capital, in 2017, coworking related transactions took up 8% of the total recorded businesses (the list was headed by London with 17%), while competition for untouched markets in the regional capitals, such as Antwerp, Namur or Liége, is escalating.
In reaction to such developments, industry stakeholders, such as the rapidly expanding Hive5, housed and powered by Securex, are swiftly examining their options for growth and expansion. How will the coworking landscape evolve in the next 5 to 10 years? Where are the most promising and optimal places for such expansion? What are those industry-specific coworking trends that need to be considered in such moves?
Through this research work, we were tasked to support Hive5 in the mapping of the coworking landscape in Belgium, and projecting the future expansion of the market.
To provide support to the continued evolution of Hive5, we ran a desk research, conducted interviews and surveys with local business partners, service providers, business organisations, and government agencies. The collected, and analysed, information provided key takeaway points and insights into market opportunities and regional coworking trends for the management board of Hive5 to plan its market entry and operational development.
Coworking in Belgium continues to expand into new business segments and regions, with many expansions already planned by 2020. As the flexible workplace market, together with coworking, is projected to keep changing over the next years, Hive5 and other market actors will continue to evolve, and cater the needs of start-ups, SMEs, entrepreneurs and freelancers. If you are looking for key workplace trends, or coworking insights, which can support your organisation in market expansion, mapping or analysis don't hesitate to contact us.