The coworking market - France (2025)

1.2 Rapid global expansion

Number of coworking space users World, **** - *****, in thousands CAGR: +**.** Source: ****

The global coworking market is experiencing sustained growth and is positioning itself as a key player in the transformation of working patterns in a post-pandemic context. In ****, the size of this market is estimated at **.** billion USD and is expected to reach **.** billion USD by ****, registering an average annual growth rate of *.**%. This expansion is fuelled by a growing demand for flexibility in working environments, a need exacerbated by the rise of telecommuting and the "work from anywhere" culture. The pandemic has accelerated this dynamic, challenging traditional commercial office models that struggle to attract workers, despite various initiatives to bring them back on-site. In contrast, coworking spaces benefit from their ability to offer collaborative environments, adapted to the needs of modern workers.

The development of coworking spaces reflects a shift in user preferences, whether freelancers (***).

Share of co-working spaces World, ****, in Source: ****

In the USA, coworking represents **.*% of global spaces, with a significant presence in cities like New York and Los Angeles, where design, ambience and location play a key role in attracting users. WeWork and IWG dominate the North American market, with ambitious expansion strategies in smaller cities to ...

1.3 Explosive growth in the French market

Number of coworking spaces France, **** - **** CAGR: +*** Source: ****

In France in ****, there will be an estimated *,*** coworking spaces, representing strong growth since **** (***) when only ** locations could be identified.

To estimate a market share in France, we assume an average monthly cost in France of €*** based on prices between ****-**** in Paris and the regions, and for open spaces and offices. [***]

This leads us to a French market of *.** billion euros (***) in ****. This figure must be analyzed with caution, as it is based on numerous assumptions. Moreover, with this in mind, Les Echos newspaper estimates the market size at *-*.* billion euros in ****.

In this respect, it is estimated that flexible working could account for between **.* and **.*% of jobs in France by ****. This is equivalent to an **% increase on current values. Growth drivers include several factors such as productivity gains; indeed, in collaborative workplaces, professional equipment is made available, and it is ergonomically designed for the utmost comfort of users, who can then be more productive. What's more, the ecosystem surrounding coworking is rich, with a wide range of businesses operating in several fields with a diverse amount of ideas, perspectives and assets all contributing to innovation and new ideas. What's more, ...

2.1 Profile analysis: The French and coworking

Coworking, a concept that has grown in popularity in recent years, offers a flexible, collaborative alternative to traditional ways of working. To better understand French people's perceptions of these shared workspaces, a survey was carried out among *,*** office workers working in companies with ** or more employees. Conducted between January * and *, ****, the survey provides valuable insight into their motivations, expectations and possible obstacles to adopting coworking. Drawing on reliable and representative data, this section will analyze the dynamics and challenges associated with these new working environments.

But first of all, are the French willing to share an office? What are their preferences in this respect?

The ability to share an office with others France, ****, in Source: ****

This graph highlights the willingness of the French to share an office with different categories of people, expressed as a percentage of positive responses (***), which may reflect a certain reserve or a preference for less personal professional relationships in a workspace.

Next, how do the French perceive their workplace?

Opinion of the workplace France, ****, in Source: ****

This graph explores French people's opinions of their workplace, expressed as a percentage of positive (***) say they are committed to their workplace habits, reflecting a strong attachment to the stability ...

2.2 Who uses shared workspaces?

The big picture

Professional use of coworking spaces varies widely; traditionally, start-ups or telecommuters are the main users of these premises. However, large companies also use this service. Companies from all sectors, including industry, financial services, real estate and banking, are included in the customer segment. [***] Indeed, Actionco reports that co-working spaces can be up to **% cheaper than traditional offices. In this section, we detail who these users are.

Who uses coworking spaces? World, ****, in Source: ****

A global survey revealed that SMEs account for around **% of coworking space customers, followed by just over a quarter (***) represented by start-ups. The smallest customer segment is made up of large operators.

Self-employed

Demand is initially made up of self-employed workers who "reside" in workspaces. This implies a B*C relationship. In general, this demand is mainly fuelled by the advent of Generation Y, where a growing number of people are self-employed, whose requirements in terms of working environment are constantly changing. This generation has a new relationship with work, technology and innovation. Indeed, the self-employed are attracted by mobility and autonomy, and are often looking for a community, where the environment is affected by collaboration and business stimulation. Around **% of co-working space customers are ...

2.3 Demand trends

The transformation of French offices

In ****, what type of office will you be working in? France, **** & ****, as % of total Source: ****

French offices are increasingly embracing collaboration. The chart above shows the response of *** companies, where it is estimated that by ****, coworking will account for **% of the office market in France, an increase of eight percentage points. In addition, head offices are expected to see a sharp decline of **% up to ****, leaving more room for shared office solutions.

An even more recent survey provides similar results:

Share of employees planning to work in the following locations (***) France, ****, in Source: ****

Rising demand for offices over *** square meters

Cushman reports that among the most dynamic segments of the office market are offices over ***m². For example, between **** and ****, demand increased by **%, measured by transactions for this size. Even more spectacularly, between **** and ****, the equivalent number was ***%, and ***% between **** and ****. The result is an increase in demand from large companies to rent office space for their employees.

From collaboration to co-living?

Coliving can be seen as an extension of co-working: it is defined as a communal lifestyle linking colocation and coworking, in a sharing of living spaces (***), workplaces and entertainment venues.

The following figures are ...

2.4 COVID-19 and collaboration

The impact of Covid-** on businesses operating in the coworking market has been extremely high, and has shown the major pitfalls of business models. Due to movement restrictions and gatherings of people, coworking offices have more or less been abandoned altogether Protocol writes that "tenants are asking if they can delay rent payments, leaving landlords scrambling to cover their own mortgages and fending off cash-hungry banks". Indeed, cash flow is declining at a rapid pace. This bodes ill for small businesses, which have fewer capital reserves, and therefore a shorter lifespan. A study by Collaborateur revealed that of the **,*** coworking spaces surveyed in *** countries, **% claimed that COVID-** had caused a significant drop in the number of customers working on their premises. In addition, **% of coworking spaces said the virus had a negative effect on membership and contract renewals. Finally, **% of respondents reported a decrease in the number of new memberships signed. Companies like Wework are caught between signing long-term fixed leases and flexible contracts with customers.

2.5 Audience analysis

Audience breakdown by age France, ****, %, %, %, %, %, %, %, %, %, %, %, % Source: ****

Analysis of the data shows that the audience in the market studied is mainly made up of people aged **-** (***). On the other hand, age groups over ** are clearly less represented in the audience of the market studied than their proportion in the French population. their proportion in the French population, in particular those aged ** and over, who represent only *.**% of the audience versus **.**% of the general population. Audience breakdown by gender France, ****, % of total audience Source : Semrush Audience analysis for the market studied shows an overall trend dominated by a more significant female presence. Indeed, women represent **.**% of the total audience, versus **.**% for men. This indicates a slight female predominance in the audience of this market. Audience breakdown by gender and age France, ****, % of total audience Source : Semrush Analysis of the data shows an overall trend where women generally have a higher participation than men in all the age brackets studied. Women represent over **% of the audience in every age group, with the highest proportion in the **-** age group (***). Audience breakdown by income level France, ****, %, % Source: Semrush Analysis of the market studied reveals that the majority of the audience is made up of ...

3.1 A competitive environment with many new entrants

The coworking value chain in France comprises three types of players: Property owners and office property companies. Their business model revolves around rent collection. Companies specialized in coworking also offer complementary services, such as catering and security, which in turn employ people. Finally, the third part of the value chain includes players in space optimization and market solutions. Source: ****

3.2 Distribution of coworking spaces

Coworking space distribution France, ****, in m* Source: ****

This chart highlights IWG 's dominance of the coworking market in France, with ***,*** m² of occupied space, almost **% more than its closest competitor, WeWork, which totals ***,*** m². Morning is in third place with ***,*** m², followed by Buro Club (***), whose surface areas remain similar.

This distribution reveals a marked gap between the leader and the other players, while showing a certain homogeneity among the challengers, whose spaces vary in a narrower range around **,*** m². These data illustrate a market where the major players still have significant room for manoeuvre to expand or consolidate their presence.

Breakdown of coworking space by surface area France, ****, as % of total Source: ****

This graph shows a balanced distribution of floor space occupied by the top ** coworking players in France in ****. Small and very large spaces (***) each account for **.*% of the total, indicating a more limited presence in these segments.

On the other hand, intermediate-sized spaces, notably between **,*** and **,*** m² and **,*** and ***,*** m², dominate with **% and **.*% respectively, underlining the importance of medium to large-sized spaces in structuring this market. This distribution reflects a diversified offering that adapts to a variety of needs, from individual workplaces to companies requiring large-scale spaces.

3.3 Paris and Ile-de-France at the heart of coworking spaces

Number of workspaces by region France, ****, in numbers Source: ****

The chart above shows that Paris and the Île-de-France region will dominate the number of co-working spaces in **** in France. Nevertheless, co-working is spreading throughout France: Bordeaux, Nantes, Marseille and Lyon in particular have seen increased growth in recent years. Compared to ****, the Ile de France (***) will see the strongest growth, according to Republik Workplace.

Source: ****

Finally, it should be noted that the market for collaborations and incubators in France is not only highly concentrated in the Paris region, but even more so in the Paris hypercentre.

From **** to **** (***), the coworking market in Ile-de-France is growing rapidly: office space rises from **,*** m* to ***,*** m* in ****. The health crisis of **** pauses this expansion, which resumes from **** to **** with **,*** m* and **,*** m* respectively.

However, since ****, there has been a **% year-on-year decline: only **,*** m* of office space has been leased by coworking operators.

Office space leased by coworking operators in the Paris Region Paris Region, ****-****, in m* Source: ****

In terms of leased space characteristics, since the Covid ** crisis, medium-sized spaces have been gaining ground and are the most in demand:

Characteristics of coworking space Paris Region, ****-****, in Source: ****

Unsurprisingly, Paris is the priority ...

3.4 The coworking business model and associated risks

Exposure to real estate

In ****, the president of the Boston Federal Reserve stated that "...in the event of a recession, a company specializing in the coworking market would be exposed to the loss of tenant income, which puts them and the landlord at risk if they can't pay rent to the building owner." [***] In return, coworking businesses could find themselves without cash and without the ability to pay landlords. Two scenarios can arise in such cases: firstly, if contracts with the real estate company are signed on a long-term fixed basis, coworkers must continue to pay landlords even though they have no income. Secondly, if the contracts are short-term or flexible, this will put considerable pressure on the income of the owners of the premises. In both cases, the coworking company faces financial difficulties, and in the latter case, this could also lead to a collapse in property prices.

What type of contract do you use? France, ****, in % Source: ****

The chart above confirms that contracts in company-customer co-working spaces are short; in one survey, **% said they had monthly contracts, while **% had daily contracts. Annual contracts occurred in less than a third of cases.

The case of WeWork

In ****, WeWork went public ...

3.5 Where to develop coworking spaces in France?

Tensions in France are not the same in all major cities. An interesting indicator for determining the level of tension in a major metropolis when it comes to coworking is the ratio of supply to demand. This gives a figure between * and *: the closer you get to *, the less tension there is in the market; the closer you get to *, the greater the tension.

This graph illustrates the tension on the coworking supply market in France in ****, taking into account the ratio between available supply and search intentions. Values close to * indicate high tension, meaning insufficient supply compared to demand. conversely, values close to * indicate a less tense market.

The Hauts-de-France and Provence-Alpes-Côte d'Azur regions have the highest ratios(***) show significant tensions, suggesting an imbalance where demand far exceeds supply.

In intermediate terms, Brittany (***) reflect a certain level of pressure.

To reduce these tensions, it would make sense to prioritize the expansion of coworking spaces in Occitanie and Grand Est, where demand far exceeds current supply. Regions such as Hauts-de-France and Provence-Alpes-Côte d'Azur, which are well supplied, could serve as a model for balancing the market in tighter areas.

3.6 The supply of available office space, an obstacle for coworking operators.

In the map that follows, the numbers indicated on a region will in fact correspond to the associated metropolis: For example: Ile de France: This will include Paris.

The development of coworking facilities in France is closely linked to the availability of office real estate. In some metropolises, the low density of available office space is a major obstacle to the establishment of new spaces. Cities such as Marseille, Toulouse and Strasbourg, where the one-year vacancy rate is less than *%, are prime examples of this problem.

This lack of immediate supply limits the possibilities for operators to lease or buy. conversely, cities such as Lyon, Bordeaux and Lille, thanks to an ambitious construction policy over the next three years, promise to renew their real estate stock and bring greater fluidity to the market. However, even in areas where efforts are underway, tensions can quickly build up, as in Montpellier, Nantes or Rennes, where the real estate stock remains modest in size and the supply/demand ratio fairly tight.

This map illustrates office supply in France's major metropolises at the end of ****, in thousands of square meters. Paris dominates with an availability of *,*** thousand square meters, underlining its capacity to host new ...

4.1 Service overview

Coworking firms rent out workspaces (***). They also offer support services. Below is a breakdown of these services.

Coworking's basic service is to provide two types of workspace

Open space: open areas for working in a dynamic, stimulating atmosphere Closed offices: quiet areas integrated into a common space

In these spaces, you'll often find everything from pens to computer equipment.

In addition to workspaces, work zones offer services in common areas

Equipment: office supplies, printers, computer screens, etc Catering: "snacks" (***), Concergerie (***): lockers, dry-cleaning, etc Sports rooms (***): yoga classes, fitness classes, etc Use of communal areas: lounges, terraces, rooftops where different users can meet

4.2 Pricing

In ****, rates for coworking spaces in Paris show relative stability compared to ****, with a slight increase of just *%. The average cost for a flexible workstation now stands at €***/month, up **% on the levels seen in ****. This increase is the result of several key dynamics:

Fast-growing demand: the flexibility of coworking spaces is attracting a growing number of companies and freelancers. Upmarket services: Operators are investing more in high-end infrastructure and services to attract and retain customers. Strategic locations: Central and prestigious districts, with strong economic appeal, are seeing sharper price rises.

Ranges of costs per item (***) in the main tertiary zones in Paris in Q* ****

Source: ****

The map above details the prices of coworking spaces (***).

Regional price differences and surface area

Estimated average rental value of a private office in a high-end workspace, in m²/year with *, * and ** m² per workstation France, ****-****, in € Source: ****

The graph above represents the average prices charged by coworking spaces around the world and in major French cities. We can see that prices are very high in London (***), and to a lesser extent in Berlin. The cheapest prices are to be found in the provinces, where you can find palatial open spaces at around ***€/ ...

4.3 Expenses related to coworking space management

Breakdown of coworking companies' cost centers France, ****, in Source: ****

We can see that the biggest expense item for coworking businesses concerns rent (***).

4.4 Supply trends

given that pure players first penetrated the market in France (***), the spread of coworking in France today is mainly due to the fact that traditional real estate giants are diversifying their offerings. Here are just a few examples:

Nextdoor is a joint venture between AccorHotels and Bouygues Immobilier; Espaces from business center specialist Regus; Wellio a Covivio brand.

Differentiation is now being played out in the race for shared office services: these are becoming increasingly sophisticated, and companies are adding value by developing them . For example, Kwerk and The Bureau offer top-of-the-range coworking services, with catering services (***).

Finally, players such as Bureaux à partager now offer extended services to colleagues' clients as well as to the workspaces themselves.

5.1 Regulations

As the legislation currently stands, coworking centers are only legally bound by the French Construction and Housing Code (***).

The PACTE law, or "Plan d'action pour la croissance et la transformation des entreprises" (***). This could increase the number of workers interested in coworking spaces.

In addition, the creation of an innovation fund of around ** billion euros in France is a legislative terrain that encourages entrepreneurship and innovation, and offers great collaborative opportunities, which should welcome a growing number of self-employed workers.

Legal status

The choice of legal status for your coworking space depends on a number of factors, including whether you're opening on your own or with associates, the tax regime you want, the protection of your personal assets and the social regime for managers. If you're the sole partner, you can opt for an individual limited liability company (***). It is also possible to choose the status of association to benefit from tax exemption, but this implies constraints such as opening up to several people and reinvesting profits in the project. If you choose to set up as an association, you will not be able to withdraw your start-up capital if you cease operations, and you will have to sell your equipment ...

6.1 Player segmentation

Source: ****

• La Cordée
• Wojo
• WeWork
• Spacesworks (International Workplace group)
• Wellio
• Morning Coworking
• Kwerk
• Multibureau
• Giboire groupe
• Industrious Office
• Start way (La poste Immobilier)
• DIGITAL VILLAGE Coworking
• THALES DIGITAL FACTORY
• Vinci Immobilier
• HÉMÉRA
• Bureaux à partager
• IWG Regus (International Workspace group)
• Ateac
• Insitu Groupe
• Bureaux and co
• Now Coworking
• La Ruche CoWorking
• Coworkings communautaires
• Cardinal Groupe
• Cowool
• Deskeo
• BMG Groupe
• The Bureau