The office market in Belfast has outperformed itself with a take up of 885,000 sq and a lowering vacancy rate, especially notable with Grade A office spaces. To meet the market demand, Belfast is planning on further redevelopment. The market expects the supply of about 1.5 million square meters of high-quality offices in 2021. Modern offices have to comply with recent market trends. Tech, media and telecommunications companies take-up 36% of offices in Belfast. These sectors are looking for high-quality, flexible workspaces. This is one of the reasons why coworking in Belfast is in high demand. Coworking spaces in Belfast are popular among local freelancers, startups and smaller companies, who are interested in flexible, yet, high-quality workspaces. Coworkings provide Grade A working environment, though, do not require serious financial and leasing commitment. Moreover, tenants get to share their space with like-minded professionals and expand business connections.
