The instationary Stokes and Navier−Stokes equations are considered in a simultaneously space-time variational saddle point formulation, so involving both velocities u and pressure p. For the instationary Stokes problem, it is shown that the corresponding operator is a boundedly invertible linear mapping between H1 and H'2, both Hilbert spaces H1 and H2 being Cartesian products of (intersections of) Bochner spaces, or duals of those. Based on these results, the operator that corresponds to the Navier−Stokes equations is shown to map H1 into H'2, with a Fréchet derivative that, at any (u,p) ∈ H1, is boundedly invertible. These results are essential for the numerical solution of the combined pair of velocities and pressure as function of simultaneously space and time. Such a numerical approach allows for the application of (adaptive) approximation from tensor products of spatial and temporal trial spaces, with which the instationary problem can be solved at a computational complexity that is of the order as for a corresponding stationary problem.