At present, many urban residents are on the search for places that offer a sense of belonging – after all, your home is where your heart is!
With many people experiencing a growing sense of isolation, the co-living concept has risen to the position for favourable living spaces with alluring options such as lyf Funan – now, it has suddenly seized the centre of focus in real estate.
Emergence of Co-Living
The desire to belong to a community along with increasing levels of unaffordable living conditions gave the rise to the first wave of co living in Singapore and many other countries.
When co-living first came into life, the focus of it was to bring like-minded individuals together. It addressed the needs of digital nomads looking for short-term accommodation while they are in town for work. But this remains a niche product.
Emerging Co-living Propositions
New co-living propositions have arrived at the market recently targeting a slightly older demographic who value privacy and community; however, they also want a significant amount of living space that comes with the luxury of a house. This has made co-living the next big thing in residential real estate.