Co-living- Latest Trends In The Real Estate Sector

October 25th, 2019

Co-living- Latest Trends In The Real Estate Sector

Bringing an end to urban loneliness, the concept of co-living provides shared housing for people with shared interests and shared intentions. The apartments rented out have private bedrooms for all individuals, while common areas like drawing and living spaces are shared among all the residents.

Co-living is a new take on an old refurbished idea, conceptualised by the millennial generation that respects and values openness and collaboration along with social networking in a sharing economy.

Features of Co-Living Spaces

  • The idea and or concept of co-living rests on openness and collaboration.
  • It is based on the shared economy wherein occupants have their personal spaces but share the common areas like the living space, balcony, kitchen, and so on.
  • It makes for an economical choice as expenses are equally shared among all residents.
  • The rent paid for co-living definitely works out to be much cheaper as compared to traditional rents.
  • The housing space is not like a dorm or a hostel room; it is designed as a modern contemporary living space clad with the latest in amenities, which make for one of the most updated and comfortable living spaces available at affordable prices. So, it is generally a house, building, or apartment done up beautifully to exhibit the nuances of luxurious living.

Why is Co-Living so Popular?

The concept of co-living has arisen due to various factors:

  • People who enjoy living with others who have similar interests and wavelength choose this idea of staying close and connected
  • It opens doors for new friendships, relations, and even business opportunities
  • It reduces the financial burden
  • Residents can seek community support, indulge in group activities, and also feel a sense of belonging when co-living with others
  • This kind of lifestyle is extremely agile as it does not bind you down via a lease or contract.
  • Many co-living spaces have co-working spaces as well, which enhances productivity.
  • Co-living spaces are fully furnished, and hence there is no cost of set-up or expenses on furniture and fixture for individuals moving in.

Is co-living safe?
Co-living spaces are generally housed in an apartment or building, constructed by reputed builders like Adarsh Developers. These companies have legitimate businesses and have active websites. Hence, from a safety and security point of view, co-living spaces are worth trying out. Being a new concept, however, you can do a little homework on your own to ensure you are placed well.

Is Co-Living the Future of the Housing Sector?
The growing need for self-employed, early age entrepreneurs to have a living space, which is fulfilling enough, without having to pay astronomically is what paves the way for the increasing demands for co-living spaces.

Global urbanisation and limited available spaces have been the driving force behind this new concept of housing. Hence, it would not be incorrect to say that co-living is undoubtedly the future of the real estate sector, not only in India but also universally, on the global platform.

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