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Flexible office space in India to cross 100 mn sq ft by 2026: Cushman & Wakefield
India’s flex office stock at 79.7 mn sq ft is set to cross 100 mn by 2026, with Bengaluru leading at 21.1 mn, making India APAC’s largest flex workspace hub.
With 79.7 million sq. ft. of flexible workspace across the top eight cities as of Q2 2025, India is already Asia-Pacific’s largest market. Stock is projected to reach 85 million sq. ft. by year-end and cross the 100 million sq. ft. milestone by 2026, according to Cushman & Wakefield’s Global Trends in Flexible Office 2025 report. Bengaluru leads with 21.1 million sq. ft., nearly a third of the country’s total, followed by Delhi-NCR, Pune, and Hyderabad.
Scoring a 100 on the consultancy’s maturity index, India outpaced the United Kingdom (98), France (97), the United States (81), and Asian hubs like Japan and Singapore (77 each). The index tracks multiple factors, including the share of flexible stock in office markets, operator diversity, and innovative leasing structures.
Demand has risen sixfold since 2020, with flexible offices making up 15% of new office leasing in 2024. International enterprises drove 72% of this demand, with Global Capability Centres (GCCs) playing a key role, while start-ups contributed 28%, the report said.
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Cost advantage and future outlook
India’s low fit-out costs, averaging $75 per sq. ft. in metros like Mumbai, Delhi, and Bengaluru, less than half of the costs in many Western markets, are fueling its attractiveness. The managed office and enterprise solutions model now dominates, accounting for up to 80% of post-pandemic demand, the report said.
Institutional interest is also rising, with four flexible workspace operators having gone public and more IPOs expected. Cushman & Wakefield predicts consolidation over the next three to five years, with large players strengthening market share.
“India’s flexible office sector is widely recognised as a global pacesetter,” said Ramita Arora, Managing Director, Bengaluru and Head – Flex, India, Cushman & Wakefield. “What sets it apart is the maturity, diversity of operators, and its ability to pivot with demand, qualities that many Western markets are still developing.”
Also Read: Led by Bengaluru, flexible office space supply touches 58 mn sq ft by H1 2024
With demand expanding into Tier-II cities such as Jaipur, Kochi, and Visakhapatnam, analysts say India’s flexible workspace sector is poised to remain a central pillar of corporate real estate strategies worldwide, the report said.
