The coworking market in Italy

The coworking market encompasses the range of activities related to the provision of shared and flexible work spaces for freelancers, freelancers, start-ups, small businesses and smart working employees. Unlike traditional offices, coworking spaces offer temporary and scalable solutions, with integrated services (Internet connection, meeting rooms, break areas, reception), and are designed to stimulate collaboration, networking and cost containment. Coworking has developed since 2005 globally and has also experienced rapid growth in Italy in the last decade, particularly after the acceleration imposed by the pandemic on remote working and operational flexibility of companies.

Globally, the value of the coworking market will grow from $17.25 billion in 2024 to $41.38 billion in 2030 (+139.9%). In Europe, the value will rise from €4.61 billion to €12.31 billion (+167.1%), while in Italy the market will increase from €364.7 million to €989.5 million over the same period (+171.3%). The number of companies active in the sector in Italy (ATECO code 82.11) increased from 4,114 in 2017 to 5,978 in 2024 (+45.3%), with annual growth of +9.4% in the most recent two-year period. Employees increased from 10,763 to 14,233 in the same time frame (+32.2%). The majority of enterprises have sole proprietorships, but the weight of LLCs is growing.

Geographically, 60 percent of coworking spaces are concentrated in northern Italy, with Lombardy in the lead (218 spaces in 2024, including 127 in Milan). This is followed by Veneto (82), Emilia-Romagna (73), Lazio (71) and Tuscany (60). Urban areas remain dominant, but there is growth in demand for suburban and suburban spaces to reduce home-to-work commute times. The main users in 2024 are freelancers and professionals (42 percent), companies/start-ups (33 percent) and smart working private workers (13 percent). 41% of requests are for daily workstations. In parallel, search platforms (e.g. italiancoworking.it) report a +25% increase in views and +35% increase in clicks on coworking profiles compared to 2023.

The average price for a daily workstation ranges from €15 to €35 in Milan, €8 to €25 in Rome, and hovers around €20 to €24 in the Veneto region. A monthly office space ranges between €440 and €1,550 in large cities. Thirty-four percent of spaces are profitable, 40 percent break even, and 26 percent make a loss. Profitability is highest in urban centers with populations between 100,000 and 500,000. The "private office within a shared space" formula is found to be the most profitable, outperforming single open locations. The largest costs are utilities (25.4 percent) and rent (24.7 percent).

Major players include Regus (€61.77M), Copernico (€21.33M), Wework (€20.27M), Talent Garden (€11.18M) and Spaces. The absolute market leader is the IWG Group, which integrated Copernico into its network in 2023, bringing the number of Italian locations to 84 (227,000 sq. m.), with a projected global turnover of €5.13 billion in 2024. Business models include "all inclusive," "balanced," minimal, corporate coworking, and specialized spaces (coliving, fablab, coworking for women or parents). Innovations include automated access, app-based management, creative design, and multi-location networks.

At the regulatory level, opening a coworking space requires having office space, complying with safety regulations (Legislative Decree 81/08), submitting the SCIA, registering with the Business Registry and having a VAT number. The coworking contract is atypical, for consideration, with lease and service elements. it is advisable in written form, with details on duration, fees, use and equipment. Anyone can enter into a contract, even students or agile workers without a VAT number.