Smart Management International- 2022 Real Estate Sector Summary and outlook for 2023 y | Property Georgia

Smart Management International- 2022 Real Estate Sector Summary and outlook for 2023 y

Nabil Najjar – Smart Management International  | Co-founder, Business Development Manager.

Tbilisi, the capital of Georgia and one of the oldest cities in the world. It is a favorable digital nomad destination with a low cost of living and extended visas where citizens from more than 90 countries can sojourn in Georgia visa-free for a year. However, when moving to a new place like this we are always faced with the decision of where to work from. It is agreed that we cannot focus working from our new home and that in a coffee shop we suffer due to the low quality of Wi-Fi or the bustle of people. For this reason, every day more digital nomads and entrepreneurs opt for co-working spaces where they can work comfortably in silence, with air conditioning or heating, and with the contribution of third parties when they need it. Co-working spaces in Tbilisi have been gaining popularity in recent years, as the number of remote workers and digital nomads continues to increase worldwide.

Before the COVID-19 pandemic, Tbilisi was already a popular destination for remote workers and entrepreneurs. Those looking for a change in scenery and the opportunity to meet other like-minded individuals found it in Tbilisi’s shared working spaces. The “Remotely from Georgia” entry permit instituted during the pandemic beckoned new remote workers from various countries to come to enjoy options for remote work in the Republic of Georgia, further increasing the demand for co-working spaces in Tbilisi. While the idea of co-working spaces has been around for quite some time now, it has been making its presence felt with an eye-grabbing pace in the last decade or so.

The latest research report published by “Statista” reveals the number of co-working spaces worldwide in 2021 was nearly 24,000 and is projected to touch the mark of 41,975 by the end of 2024. Rightfully known as a citadel for freelancers and budding start-ups, co-working spaces have been a breather for independent workers in recent times. They offer the convenience of forgoing rental places and the freedom to work in adaptable surroundings. But co-working spaces are not created just for start-ups. In fact, a broader range of businesses, including SMEs, MNCs, and corporates, have started to tap into the emerging trends of the co-working industry. For most of them, the reasons to embrace the agile workspace trend go beyond cost savings. Instead, they seem to love the advantages that co-working office spaces offer in view of employee satisfaction, flexibility, productivity, and innovation.

As the trend of co-working grows, more and more startups and businesses are interested in moving in to co-working spaces. There are a number of great benefits that co-working spaces bring: flexible membership, lower price than traditional office, a supportive community, a hard-working vibe, to name just a few. If your company is curious about co-working spaces, you might wonder how the price options look like. According to “DeskMag”, the average monthly price for a dedicated desk in the U.S. is $387 and the average monthly cost for a hot desk is $195. Around the globe, these prices remain pretty much constant, although they fluctuate across continent While co-working costs vary from city to city and business to business, it is expected to pay comparatively low fees for a space that's dedicated to you. Spaces will always vary in cost, but that should be in tandem with the amenities they offer. Some co-working spaces will offer amenities like restaurants, courtyards and even showers, while some will simply offer desk space.

The contemporary business landscape, booming start-up ecosystem, and post-pandemic economic challenges mean that entrepreneurs, enterprises, and freelancers around the world need to embrace rapidly changing work culture and workforce fluidity. Co-working spaces are emerging as key disruptors in revamping the future of work. By encouraging a flexible and collaborative work culture, they not only empower employees with ample room to evolve but also help organizations take a huge step towards business growth.

Smart Management International (SMI), member of FIABCI, is a multinational company that provides through its exclusive product “Key Office” flexible office solutions, including serviced offices, meeting rooms, and virtual office services to businesses of all sizes. Key Office helps companies establish a professional business presence by providing flexible, cost-effective solutions that allow companies to work wherever, whenever and however they choose. We at Key Office can accommodate people searching for one-person office up to companies with 60 or 70 employees. Our premises are fully serviced and up to the international standards. Payments can be monthly, trimestral or yearly. Our plan for the coming months is to expand in new locations, develop new services and ideas; stay tuned!

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