Is co-working just a fad?

Just a year ago, co-working spaces were all the rage all around the world. With countless co-working spaces mushrooming up, and many news outlets writing articles on it. However, with things starting to turn quiet, it makes us wonder; Is co-working just a fad?

The concept of co-working is relatively fresh and new. Instead of renting an entire office, you pay for a spot within the office. Depending on which package you sign on for, you can choose to work from a fixed spot, or different spots each day. You also have the flexibility of choosing the length of your agreement. Rentals can be as short as a day long.

In the past few years, this idea and concept boomed across the world. Co-working spaces are offices that promote versatility in terms of the lease length, location, and the facilities and amenities provided. This idea created a massive industry-wide demand, which led to new spaces mushrooming up across the globe.

This demand spread far and wide; and has washed up to the shores of South-East Asia. In Malaysia, three major co-working space companies have been launched in 2017 alone. All 3 have plans to expand within Malaysia and South-East Asia in the near future.

With so many co-working spaces being launched and in operation, this demands the question. Is co-working here to stay, or is it just a fad that will pass away?

As companies small and large start to embrace the benefits of co-working, its hard to see why co-working will fail. The concepts of community, collaboration, and dynamics are the main attractive factors of co-working. As such, many major companies have started trying to renovate their offices in order to be able to achieve the productivity and the motivation that the employees in co-working spaces possess.

As more and more companies begin to look toward co-working spaces, it is sure to say that co-working spaces are here to stay. Whether as stand-alone outlets, or as company offices, this concept has changed the definition of offices, and will continue to remain as an influence in the future.

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By Yao Victoria for Colony