Over the long-term coworking will still be around, says CEO Owen Thomas. "But in the short-term, it's challenged and clearly there is limited growth, probably contraction, among the co-working operators."
Unavailability of debt, inability to inspect properties and difficulty negotiating in a fully remote work environment are chief among these obstacles, according to a report by Avison Young.
Although COVID-19 has certainly disrupted the real estate world, it has also, paradoxically, generated a novel opportunity for the industry and its evolution.