Overview of the flexible office sector in Italy

The report examines the dynamics of the flex office market through an analysis of office space take-up by flex operators, with a dedicated focus on the Milan and Rome markets, framed within the broader context of the European flex office sector.

Additionally, through a survey conducted in partnership with AUflex, encompassing 116 centres nationwide, the report assesses the performance of a sample of centres across several dimensions, including the range of services offered, pricing strategies, occupancy trends, and revenue performance. The findings reveal considerable variation depending on location and the size category of the centres.

Below are the key trends emerging from the survey:

• From temporary to structural: client tenure exceeds initial contractual terms. The data shows that companies, while initially opting for short and flexible contractual arrangements, tend to extend their stay in flex spaces well beyond the originally agreed term.
• Unmet potential demand. The Italian flex market shows high occupancy levels, yet a clear supply constraint also emerges: numerous operators find themselves unable to accommodate new clients despite active demand.
• Private offices redefine the sector's identity. The business model of flex operators has progressively moved away from traditional coworking, shifting towards more private, bespoke solutions tailored to corporate needs. This evolution is reflected in the services offered and the configuration of spaces, with significant variation depending on operator scale.
• A multi-speed market, across major hubs and secondary cities. The performance of flex operators varies considerably depending on location and scale, shaping a diverse and evolving market.