{"id":77320,"date":"2018-01-19T10:43:53","date_gmt":"2018-01-19T03:43:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/co-living-gains-traction-in-asia\/"},"modified":"2018-01-19T11:03:00","modified_gmt":"2018-01-19T04:03:00","slug":"co-living-gains-traction-in-asia","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/co-living-gains-traction-in-asia\/","title":{"rendered":"Co-living gains traction in Asia"},"content":{"rendered":"


\nHmlet\u2019s co-living space in Joo Chiat, Singapore. (Photo: Hmlet)
\nCo-living is gaining popularity among millennials in Asia, especially in markets such as Hong Kong and greater China, where housing cost remains high, revealed a JLL report.
\nThis comes as co-living offers an affordable alternative to sharing a rental unit, staying in the family home or living in a subdivided flat, said Denis Ma, research head at JLL Hong Kong.
\nIn fact, China has 90 co-living space operators by end-2016, with Vanke Port Apartment, one of the country\u2019s biggest operators, managing over 60,000 units. YOU+ and ZiRoom operated 16 and seven properties, respectively, while Mofang expanded to around 15,000 units.
\n\u201cThe demand from millennials for co-living is huge in China. In the past five years alone, there were 43 million new graduates. Given the high housing prices across the country\u2019s tier 1 and 2 cities, it will take at least three to five years for them to start purchasing their own homes, which means many of them will have to rent or look for short-term alternatives. Therefore, co-living is definitely an attractive option,\u201d explained JLL China research head Joe Zhou.
\nIn Singapore, Aurum Investments, which is a sister company of co-working space Collision8, invested in a new co-living startup Hmlet. Beijing-based startup 5Lmeet, on the other hand, went beyond shared accommodation by offering its occupants an open space and other amenities such as gym, restaurants and event space.
\nThe rising trend of co-living also proved to be attractive to investors as well as owners of existing properties, especially in the hospitality sector.
\n\u201cSmaller budget and boutique hotels are one of the first property types being converted into co-living spaces due to the similar unit sizes and mature operating teams,\u201d noted Zhou.
\n\u201cHowever, converting other properties to co-living has to go through a complicated legal and planning process, which increases the time and cost.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Co-living gains traction in Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hmlet\u2019s co-living space in Joo Chiat, Singapore. (Photo: Hmlet) Co-living is gaining popularity among millennials...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-77320","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-k76","jetpack-related-posts":[{"id":72499,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-budget-hotel-operators-show-interest-in-moving-into-co-living-space\/","url_meta":{"origin":77320,"position":0},"title":"Hong Kong budget hotel operators show interest in moving into co-living space","date":"November 22, 2017","format":false,"excerpt":"\r Hong Kong budget hotels in non-core areas are keen to join other investors to convert their underperforming properties into co-living spaces, as it provides a cheaper alternative for millennials priced out of the world\u2019s most expensive housing market. And the situation is only likely to get worse, with property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31957,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-in-three-asian-millennials-still-living-with-parents\/","url_meta":{"origin":77320,"position":1},"title":"Two in three Asian millennials still living with parents","date":"October 28, 2016","format":false,"excerpt":"\r High property prices in the region are preventing millennials from buying their own home. Two in three young adults in Asia Pacific aged between 22 and 29 are happy to live in the family home until they have the financial capacity to live independently, revealed a CBRE survey. CBRE\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94119,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-co-living-space-goes-upmarket-as-rents-and-home-prices-soar\/","url_meta":{"origin":77320,"position":2},"title":"Hong Kong\u2019s co-living space goes upmarket as rents and home prices soar","date":"July 18, 2018","format":false,"excerpt":"\r In Hong Kong, the world\u2019s most expensive place to live, the economical concept of co-living that is popular among young people has moved upscale. District15, developer of The Nate in Tsim Sha Tsui is leasing out space from HK$15,000 (US$1,911) to HK$25,000, rates relatively steep by co-living standards, though\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vastly-different-hong-kong-singapore-housing-markets-find-common-ground-in-booming-co-living-segment\/","url_meta":{"origin":77320,"position":3},"title":"Vastly different Hong Kong, Singapore housing markets find common ground in booming co-living segment","date":"September 4, 2020","format":false,"excerpt":"\r Hong Kong and Singapore, rival finance hubs in Asia, may have vastly different housing markets, but one thing they share in common is a relative abundance of co-living options.\r\rLast year, a study by Knight Frank ranked Hong Kong as fourth and Singapore ninth among 20 Asia-Pacific cities that are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111812,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/your-bedroom-is-all-thats-your-own-but-big-co-living-units-are-proving-so-popular-that-operators-are-rushing-to-boost-supply\/","url_meta":{"origin":77320,"position":4},"title":"Your bedroom is all that\u2019s your own, but big \u2018co-living\u2019 units are proving so popular that operators are rushing to boost supply","date":"October 23, 2019","format":false,"excerpt":"\r Co-living \u2013 in which renters have their own bedrooms but share other space like kitchens and living rooms \u2013 is taking off in Hong Kong, with operators planning to triple the number of units available by the end of next year.So far, only about 400 of these big co-living\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81978,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-hotels-in-hong-kong-convert-to-co-living-spaces-as-they-look-to-improve-rental-yield\/","url_meta":{"origin":77320,"position":5},"title":"More hotels in Hong Kong convert to co-living spaces as they look to improve rental yield","date":"March 6, 2018","format":false,"excerpt":"\r An increasing number of hotels in Hong Kong\u2019s non-core tourist areas are toying with the idea of converting their properties to co-living spaces as they face challenges from the changing travel pattern of young professionals and a drop in mainland tourists, say industry experts. \u201cHotels converting to co-living use\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77320"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=77320"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77320\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=77320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=77320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=77320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}