{"id":12806,"date":"2019-07-23T07:20:55","date_gmt":"2019-07-23T07:20:55","guid":{"rendered":"https:\/\/www.instantoffices.com\/blog\/?p=12806"},"modified":"2019-10-30T16:45:20","modified_gmt":"2019-10-30T16:45:20","slug":"cost-per-desk-toronto","status":"publish","type":"post","link":"https:\/\/www.instantoffices.com\/blog\/featured\/cost-per-desk-toronto\/","title":{"rendered":"Cost Per Desk Toronto"},"content":{"rendered":"

Flexible office space supply has grown by 14% in Toronto in the last 12 months, with demand outstripping supply in this major cultural and financial hub. Double-digit growth could be set to continue as more businesses swap the constraints of traditional office space for coworking, serviced and hybrid space.<\/p>\n

Flex space has become a significant disruptor in the commercial real estate industry, and Toronto and Vancouver are two of the country\u2019s most exciting markets to watch. In Toronto, one of North America\u2019s most prominent international business hubs, companies of all sizes are looking to flex space to remain competitive, with creative and tech industries driving a large portion of demand.<\/p>\n

Growth of Flexible Options<\/span><\/h2>\n

In Canada overall, demand for flexible office space has seen significant growth over the last few years as more businesses explore the benefits of shared office space. A strong entrepreneurial culture, paired with a large Millennial workforce, has seen the country\u2019s workplace preferences shift in favour of agile options like remote working and flexible hours. Studies suggest shared office space could account for 20% of total office space in the country within the next decade.<\/p>\n

At 14%, Toronto\u2019s double-digit growth outstrips several cities in the nearby United States \u2013 one of the biggest flex markets in the world \u2013 where New York saw a 14% increase and California an 11% increase. Despite the city\u2019s steady growth, desk space in Toronto still more affordable than New York, London and Hong Kong.<\/p>\n

\"Cost-Per-Desk-Toronto---How-Much-is-Flexible-Workspace-in-Toronto---Instant-Offices\"<\/p>\n

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Average Desk Costs in Toronto<\/span><\/h2>\n

The average desk cost in Toronto has seen a 4% increase in 12 months. Costs right now average $790 per person, per desk, compared to 12-months prior at $757.<\/p>\n

Prices vary according to district, with prices as low as $302 in Scarborough, rising to $1082 in the highly sought-after Financial District.<\/p>\n

While coworking and serviced office space both saw a healthy 11% growth overall, hybrid space has become a fast-growing favourite with 18% growth. Popular for its mix of shared and private spaces, hybrid space offers all the flexibility of a coworking space with all the amenities of a serviced office, and has become a major trend among corporates looking for more desk space.<\/p>\n