India Retains Position as the World's Most Mature Flexible Office Market
- IBEF
- October 14, 2026
India retained its position as the world’s most mature flexible office market, securing a 100% score on Cushman & Wakefield’s Flexible Office Market Maturity Index. According to an analysis by Upflex of nearly 23,000 on-demand bookings, India’s share of global flexible workspace bookings increased from 2.2% in H1 2025 to 10.2% in H1 2026, making it the second-most active market globally after the United States (US). India’s flexible office inventory reached 88.70 million square feet (MSF) in H1 2026, accounting for 10.5% of the country’s total office stock. The market is expected to exceed 100 MSF in 2026 and expand to approximately 160 MSF by 2030, driven by rising enterprise demand, greater institutional investment and demand for high-quality workplace solutions. Flexible office operators leased 8.50 MSF across India’s top eight cities in H1 2026, marking their strongest-ever first-half performance, while flexible workspaces accounted for around 20% of overall office leasing in the country.
India’s flexible office sector has expanded beyond traditional coworking spaces to include managed offices, fit-out solutions and integrated workplace services. Between 2023 and 2025, operators leased 44.10 MSF of space, representing more than 7,20,000 flexible workspace seats. Seat demand grew nearly sevenfold, from approximately 38,000 in 2020 to an estimated 3,00,000 in 2026. In H1 2026, flexible office operators accounted for 35% of overall office leasing in Pune, 33% in Ahmedabad and 26% in Hyderabad. Tier II cities are emerging as additional growth markets, while Indian operators are expanding internationally. Smartworks has expanded into Singapore, and Table Space has proposed entering the Philippines through a strategic stake in KMC Solutions. Growing demand from Global Capability Centres (GCCs), multinational companies and artificial intelligence (AI)-led businesses is creating further opportunities. The sector is also attracting institutional capital, with four flexible office operators publicly listed and another initial public offering (IPO) in the pipeline.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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