Real Estate Talking Point: Co-living: changing the face of residential development?
By now we’re all familiar with the concept of co-working; WeWork is a household name, and new providers of modern and collaborative office space are appearing at pace. Hot on the heels of the success of the co-working concept is the rise of co-living, a hotel/apartment hybrid where residents enjoy a private en-suite bedroom but share varying degrees of communal space which may include kitchens, living areas and other facilities. Similar to co-working, co-living is predominantly a city concept, particularly popular with millennials moving to new cities for employment and looking for short to medium term living solutions that offer opportunities to connect with like-minded people. Co-living should be distinguished from co-housing, where shared space tends to be limited to gardens and entertaining space and where homes are ordinarily purchased by residents for longer term benefit.
In this alert Imogen Jones discusses co-living and its potential impact on residential development. Click here to read more.