Co-living has recently become the new way of living for thousands of young professionals. It represents a more convenient way to live in the center, in a comfortable space and with all the utilities and facilities needed.
Looking at the exponential growth of the co-living industry from a business point of view, it is interesting to understand why it can be a fruitful market to invest in.
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Co-living is a new housing movement characterized by communal living where people live in the same building, have their own private room but share all of the communal spaces. The renters pay a monthly bill that includes all of the essential services, such as internet, housekeeping, laundry, and facilities that might be present in the building such as working spaces, gym, and cinema rooms.
Thanks to these characteristics, this type of housing are very common between young professionals and remote workers because it gives them the chance to live in a place where they can live, work and create a community of people.
Choosing co-living spaces allows living in a dream house, right in the center, with all the amenities needed and everything at an affordable price.
The growth of the co-living industry can be linked to 4 main socio-economic factors that also represent the main reasons why investing in co-living can be a winning choice.
A co-living empire can rise in the form of hotel-like co-living spaces or residential houses turned into functional co-living accommodations.
The potential pool of investors is therefore quite wide and the active developers in the market fall into these two main typologies.
With the growth of remote work, the fear of being alone again, and the emerging sharing economy, co-living schemes are a very attractive facility for young professionals, digital nomads, and students. Thanks to this new kind of buildings with amenities, everyone can have the possibility to live, work and in the meantime socialize in the same place and for an affordable price, without having to fear another lockdown.
Co-living has become a real phenomenon in the UK and many property managers have already shifted their interest to this quite recent business because they have seen the potential hidden in it.
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