3/21/22, 12:36 PM
Generation Rent: The Rise of Co-living Accommodation | Jason Solis | Interests & Hobbies
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Generation Rent: The Rise of Co-living Accommodation by Jason Solis | Mar 21, 2022 | Jason Solis
Co-living is becoming an increasingly popular option for Millennials and other young professionals. It offers a sense of community and camaraderie in traditional rental properties that are hard to find. Co-living spaces are designed for people who want to live more social lives, meet new friends, and access shared amenities. This blog post explores the rise of co-living accommodation and its surge in different communities. What is Co-living Accommodation? Co-living is defined as “the next generation of shared housing, where residents share kitchens, living spaces, and common areas.” Co-living can include renting in a big house or apartment with strangers (also known as group houses) or immediately sharing an apartment/house with other roommates. https://jasonsolis.org/generation-rent-the-rise-of-co-living-accommodation/
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3/21/22, 12:36 PM
Generation Rent: The Rise of Co-living Accommodation | Jason Solis | Interests & Hobbies
This trend has grown out of necessity – Millennials struggle to buy property and pay for housing, especially in large cities. It also offers a sense of community and camaraderie that is hard to find in traditional rental properties. What’s the Appeal of Co-living? Co-living accommodation has become increasingly popular over the past few years. This trend can be attributed to several key factors like: The Cost of Living The cost of living is soaring across the world. Many Millennials are still struggling to get on the property ladder, even with the government’s help-to-buy schemes. Renting prices increase every year, making it hard to save for a deposit. Choice of Accommodation The rental market is very competitive. Due to this, many Millennials struggle to find the perfect property that suits their needs. This is where co-living comes in – it provides a range of different properties and prices. For example, WeLive provides luxury communal living with apartments available for short- and long-term rent. Co-Living Spaces are Social Millennials place a lot of value on social aspects like community and connectivity. They don’t want to live alone in their own homes; they want to live with other Millennials! Coliving spaces can provide venues for socializing and networking. The freedom level also depends on which type of co-living accommodation you choose. For example, some properties require a set number of house rules while others don’t. As the cost of living increases, co-living has become an excellent alternative for young professionals. The high demand for co-living spaces is expected to grow in the coming years. This trend will lead to more developed properties targeted at Millennials who want communal living with added benefits like shared amenities and socializing opportunities.
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