India leads global flex office market, to cross 100 mn sq ft by 2026: C&W

India has topped the global flex office maturity index, with Cushman and Wakefield projecting stock to cross 100 mn sq ft by 2026 on strong demand and operator expansion

India’s flexible workspace market has topped the global maturity index, ahead of the UK, France, the US, Japan and Singapore, driven by rising demand and operator expansion, according to a report by property consultant Cushman and Wakefield (C&W).

 

The report stated that the share of flexible office space within overall office stock varies across global markets.

 

“Some mature office markets do not have a significant presence of flexible office space, while some emerging office markets have developed a strong presence of flexible office providers,” it added.

 

In this context, the report noted that India has stood out for the strength and maturity of its flexible workspace market.

 

 

The country leads the Asia-Pacific (APAC) region in the flex office segment, with total stock of 79.7 million square feet (msf) across the top eight cities in the second quarter of calendar year 2026.

 

The segment is expected to reach around 85 msf by year-end and surpass 100 msf by 2026. 

 

C&W added that growth has been matched by surging demand. “Flex demand has risen nearly sixfold since 2020, fuelled by occupiers prioritising shorter commitments, managed solutions and speed-to-market strategies,” it said.

 

In 2024 alone, flexible space accounted for 15 per cent of total new office leasing, confirming its mainstream adoption.

 

Operator expansion has also accelerated sharply, with providers leasing 33.5 msf, equivalent to over 500,000 seats, in the last three years (2022–24).

 

“Annual operator take-up has tripled in just five years, from 4.3 msf in 2020 to 15.4 msf in 2024, firmly establishing flexible workspace as a core workplace solution rather than an alternate option,” the report added.

 

International enterprises drove much of this demand, accounting for 72 per cent of flex seat absorption in 2024, while start-ups took 28 per cent.

 

The stock, however, remains concentrated in the top eight cities, with Bengaluru leading with around 30 per cent of national flex inventory, followed by Delhi NCR, Pune and Hyderabad.

 

Experts said that while metro cities have been the key markets for coworking spaces, demand is rising in tier II and III cities, making the market more diverse.

 

“The coworking sector will also see consolidation, where larger operators may acquire smaller players to expand their footprint,” said Manas Mehrotra, founder of 315Work Avenue.

 

Commenting on the rising prominence of India’s flexible office market globally, Ramita Arora, managing director (Bengaluru) and head for flex, India at C&W, said that with more operators entering, leasing volumes rising and IPOs validating the sector, India has built the world’s most agile, enterprise-ready ecosystem.

 

“This is no longer just about providing space, it is about enabling companies to scale, innovate and stay resilient in a fast-changing world,” she added.