One in ten offices stand empty.
A new standard is emerging.
It is no longer a given that office space is leased the moment it becomes available. In several European cities, vacancy rates hover around 10% – and in some areas even higher (BNP Paribas Real Estate, 2025). This means that one in ten office spaces now stand vacant – a challenge many property owners are already facing.
At the same time, we see a shift in how companies actually use their offices. Where the office was once the unquestioned base of operations, hybrid and remote work have changed the rules of the game. Offices are still needed – but on new terms.
At the same time, we see a shift in how companies actually use their offices. Where the office was once the unquestioned base of operations, hybrid and remote work have changed the rules of the game. Offices are still needed – but on new terms.
UpdatedAug 19. 2025
(Photo: © Sergei Wing, Unsplash).
One in ten office spaces across Europe now stand vacant – a challenge pushing landlords to adopt new solutions.
One in ten office spaces across Europe now stand vacant – a challenge pushing landlords to adopt new solutions.
How tenants want to use the office today
In recent years, banks have increasingly adopted a “hub-and-spoke” model – a structure with one central office (hub) and several smaller satellite offices (spokes). The model allows companies to both reduce total space and be closer to employees in suburban areas. It is seen as a solution for lowering costs while improving presence, and has been highlighted in analyses by McKinsey as well as in expert commentary in Forbes.(McKinsey, 2022)
Consulting firms and other fast-growing companies are increasingly turning to flexible coworking spaces to quickly scale up or down based on project-specific needs. McKinsey describes how the “office of the future” is evolving towards more dynamic and flexible work environments. Market data also shows that flexible office models are expanding rapidly worldwide, with major players such as IWG/Regus and WeWork dominating the market.In retail, pop-up stores have established themselves as a powerful response to shifting consumer behaviour. McKinsey highlights the pop-up concept as a key driver for creating experience and differentiation in an increasingly fragmented retail sector. The model has grown quickly in both scale and popularity as an alternative to traditional long-term leases in shopping centres. (McKinsey, 2017).
In recent years, banks have increasingly adopted a “hub-and-spoke” model – a structure with one central office (hub) and several smaller satellite offices (spokes). The model allows companies to both reduce total space and be closer to employees in suburban areas. It is seen as a solution for lowering costs while improving presence, and has been highlighted in analyses by McKinsey as well as in expert commentary in Forbes.(McKinsey, 2022)
Consulting firms and other fast-growing companies are increasingly turning to flexible coworking spaces to quickly scale up or down based on project-specific needs. McKinsey describes how the “office of the future” is evolving towards more dynamic and flexible work environments. Market data also shows that flexible office models are expanding rapidly worldwide, with major players such as IWG/Regus and WeWork dominating the market.In retail, pop-up stores have established themselves as a powerful response to shifting consumer behaviour. McKinsey highlights the pop-up concept as a key driver for creating experience and differentiation in an increasingly fragmented retail sector. The model has grown quickly in both scale and popularity as an alternative to traditional long-term leases in shopping centres. (McKinsey, 2017).
(Photo: © Shauna Summers, deathtothestockphoto.com)The office is increasingly becoming a place for collaboration and culture, rather than the unquestioned base for all work.
(Photo: © Ricardo Olvera, Pexels)Landlords are at a crossroads: vacant space can remain a cost, or be transformed into attractive flexible offices.
How the game is changing for landlords
For landlords, the new reality means two things: the risk of prolonged vacancies grows if spaces are not perceived as flexible — but flexibility also creates opportunity. Those who can offer move-in ready and adaptable offices become more attractive, even to companies that previously only considered premium locations.A concrete example is coworking operators such as IWG (Regus/Spaces), which in 2024 opened a record number of new locations worldwide through its “capital-light” model — clearly reflecting the growing demand for flexible solutions. (Allwork, 2025)
But flexibility is not only about leases or furniture. As companies rent offices for shorter periods and under more dynamic terms, the demand for Facility Management (FM) services also rises. Tenants now expect cleaning, reception, IT support and other service solutions to be available from day one – much like checking into a hotel.According to a recent Deloitte report, the global FM market is valued at over USD 1.6 trillion and is rapidly evolving towards Integrated Facility Management (IFM), where services, technology and workplace strategy are combined to meet the new demands of the hybrid work environment. (Deloitte, 2025)
Landlords are therefore faced with a choice: continue with traditional leasing models – or adapt to a market where flexible space and integrated FM services are becoming the new standard.
For landlords, the new reality means two things: the risk of prolonged vacancies grows if spaces are not perceived as flexible — but flexibility also creates opportunity. Those who can offer move-in ready and adaptable offices become more attractive, even to companies that previously only considered premium locations.A concrete example is coworking operators such as IWG (Regus/Spaces), which in 2024 opened a record number of new locations worldwide through its “capital-light” model — clearly reflecting the growing demand for flexible solutions. (Allwork, 2025)
But flexibility is not only about leases or furniture. As companies rent offices for shorter periods and under more dynamic terms, the demand for Facility Management (FM) services also rises. Tenants now expect cleaning, reception, IT support and other service solutions to be available from day one – much like checking into a hotel.According to a recent Deloitte report, the global FM market is valued at over USD 1.6 trillion and is rapidly evolving towards Integrated Facility Management (IFM), where services, technology and workplace strategy are combined to meet the new demands of the hybrid work environment. (Deloitte, 2025)
Landlords are therefore faced with a choice: continue with traditional leasing models – or adapt to a market where flexible space and integrated FM services are becoming the new standard.
(Photo: © &Tradition)
Move-in ready spaces with furniture and FM services are becoming increasingly attractive for companies that want the ability to scale up or down quickly.
Move-in ready spaces with furniture and FM services are becoming increasingly attractive for companies that want the ability to scale up or down quickly.
"One in ten offices stand empty – this is not a cyclical issue, it is a new standard emerging".— BNP Paribas Real Estate (Q4 2024)
Future-proof your portfolio with flexible solutions
For landlords, the office of the future represents both a clear opportunity — and a pressing need for change. Spaces that are not perceived as flexible risk remaining vacant for longer. At the same time, offices with move-in ready layouts and integrated FM services are becoming more attractive, even to companies that previously only sought premium locations.Research shows that the global FM market was valued at over USD 1.6 trillion in 2023, and that the Integrated FM (IFM) model — where services, technology and maintenance are seamlessly managed — is rapidly growing in popularity among large organisations. (deloitte, 2025). At the same time, CBRE notes that FM teams need to leverage AI-driven analytics and smart automation to manage fluctuating occupancy patterns and create a workplace that truly works in practice (cbre, 2025).
Beleco enables this through an integrated solution: furniture, contract and service management, and FM services within one digital ecosystem. This allows for faster leasing, lower vacancy rates, and an offering fully aligned with the expectations of today’s tenants — where FM is not an add-on, but a given.
For landlords, the office of the future represents both a clear opportunity — and a pressing need for change. Spaces that are not perceived as flexible risk remaining vacant for longer. At the same time, offices with move-in ready layouts and integrated FM services are becoming more attractive, even to companies that previously only sought premium locations.Research shows that the global FM market was valued at over USD 1.6 trillion in 2023, and that the Integrated FM (IFM) model — where services, technology and maintenance are seamlessly managed — is rapidly growing in popularity among large organisations. (deloitte, 2025). At the same time, CBRE notes that FM teams need to leverage AI-driven analytics and smart automation to manage fluctuating occupancy patterns and create a workplace that truly works in practice (cbre, 2025).
Beleco enables this through an integrated solution: furniture, contract and service management, and FM services within one digital ecosystem. This allows for faster leasing, lower vacancy rates, and an offering fully aligned with the expectations of today’s tenants — where FM is not an add-on, but a given.
“Companies don’t want to wait months for an office to be ready – they want to move in tomorrow and be able to scale up or down by the next quarter.”— Deloitte (mars 2025)
(Photo: © Agustín Farías, deathtothestockphoto.com)A new generation of employees is redefining what the workplace means – freedom, flexibility and balance.
(Photo: © &Tradition)Flexible offices are not only about space – but also about creating environments where people want to work and connect.
What waits landlords
The office market is entering a new era. Rising vacancy rates show that traditional models are no longer sufficient, while tenants are making it clear that flexibility and services are now non-negotiable. A new office standard is rapidly emerging – where space, furnishings and FM services are viewed as one integrated whole.For landlords, this is not about choosing between “old and new,” but about complementing their portfolios and creating long-term value. The question is therefore not if the change will come, but who will take the first step.
The office market is entering a new era. Rising vacancy rates show that traditional models are no longer sufficient, while tenants are making it clear that flexibility and services are now non-negotiable. A new office standard is rapidly emerging – where space, furnishings and FM services are viewed as one integrated whole.For landlords, this is not about choosing between “old and new,” but about complementing their portfolios and creating long-term value. The question is therefore not if the change will come, but who will take the first step.
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works in practice?Learn more at beleco.com or get in touch with us to discuss how you can fill vacant square meters and meet the new office standard.
works in practice?Learn more at beleco.com or get in touch with us to discuss how you can fill vacant square meters and meet the new office standard.
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