Turkey Serviced Office MarketView 2023 H1

Serviced office providers have expanded their fields in response to the growing demand for flexible workspaces in Turkey and around the world in recent years. In the beginning, coworking and serviced office areas mostly appealed to entrepreneurs and freelancers, but over time, they have attracted the attention of office users from all sectors.

Office users were pushed towards serviced offices in recent years by issues such as rising construction prices, a lack of Class A office space, high occupancy rates and new hybrid working arrangements notably post-Covid-19.

Serviced offices entered our country in 1999 and the growth has accelerated, especially after 2013. Serviced office leasable area, which was 230,000 sqm in 2022, has reached 300,000 sqm leasable area as of the 1st quarter of 2023 with a growth of approximately 25%.