As the housing market has changed drastically in large cities over the last few decades, with rising property prices and limited availability, private apartments have gotten more expensive and are further away from the city center than they’ve ever been. For people moving to these cities, especially on short notice or for limited time, these trends have led to poor access, high prices, and a lower quality of life.
Coliving was introduced as an alternative to the traditional housing options on the market, as the combination of sharing larger spaces and compact private spaces increased the area that you were able to use in total, and increased the number of amenities included in your accommodation.
Another factor is how work and studies have become much more flexible, seeing working professionals and students both relocating at a much higher rate. Either long-term, or for limited periods like project-work, internships, or temporary work assignments. Among this group there is a high demand for housing that avoids the classic pitfalls and hurdles, such as long waits, requiring excessive documentation, or scams. Professionally managed coliving communities made for a perfect match, providing this mobile group with furnished and move-in ready spaces with minimal set-up required. As an added benefit, this solution also offers the possibility to meet other people who are in a similar stage of life, which lessens the feeling of isolation that comes with relocating.
We see no indication that the growth of coliving solutions will lessen in the near future. If anything, the growing number of providers and rapidly increasing demand indicates that it is still in its infancy. As more people continue to flood to the cities and remote/hybrid work becomes the norm, we anticipate that the unique balance of private accommodations and shared social spaces will continue to become increasingly commonplace. For these reasons, it could be argued that coliving is a natural response and shift in how needs and preferences have changed in modern times; now, the priority is flexibility, availability, and social connections, compared to the previous long-term investments and static lifestyles.
