By 2020, some 13.5 million Indians will operate out of such facilities, according to estimates by Jones Lang LaSalle.
Indians are increasingly likely to ditch their offices for shared working spaces.
Demand for co-working spaces and flexible offices is likely to jump by between 30% and 40% in 2018, according to estimates from real estate consulting firm Jones Lang LaSalle. And by 2020, some 13.5 million Indians will operate out of such facilities. This will include 10.3 million employees of large companies, 1.5 million freelancers, and around 100,000 startup workers.
The demand will largely be driven by an increasingly young population and small businesses and startups, and further fuelled by expensive office rentals.
Co-working spaces typically work on a leasing model where workers can rent out workstations on an hourly, daily, weekly, or monthly basis. This saves companies the cost of leasing out office space and setting up infrastructure such as air conditioning, printers, coffee machines, etc.
As demand rises, co-working spaces are expected to attract $400 million in investments in the next one year, Jones Lang LaSalle added. Over the last few years, both foreign and domestic firms have upped investments into the market, especially in big cities.