THE RISE OF CO-LIVING ACCOMMODATION
Generation Rent 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.
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.
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 theThe 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-tobuy schemes. Renting prices increase every year, making it hard to save for a deposit. world.
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! Co-living spaces can provide venues for socializing and networking.
Choice of Accommodation The rental market is very coThe rental market is very competitive. Due to this, many Millennials struggle to find the perfect property that suits their needs.mpetitive.
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