The Rise of Coliving Spaces

The Rise of Co-living Spaces

Communal housing has turned out to be a trendy concept in most of the high-price cities. The rising rents, the desire to travel and work, the urge to boost innovation and creativity, the yearning to experience various cultures, and staying with like-minded people have made the millennial look for co-living spaces. 

For the young generation, the concept of accommodation is different from that of their parents and ancestors. Lots of millennials like to shift from an entirely personal apartment to space where they can enjoy social activities. Moreover, the communal living space promotes socialization, as strangers can turn out to be like-minded friends. Millennials are ready to share their accommodation for better socialization.

While talking about co-living space, we use some overlapping terms, like communal living and community housing. However, how do we define this co-living space? It is something where residents not only share the space but also communicate their interests and values. Most of these co-living units have decorated pre-furnished rooms with communal amenities, like co-working spaces, kitchens, and social areas.

Demographics that give more focus on co-living

Digital Nomads look for shared environments that are advantageous to their personal and professional lives. Moreover, some high-income citizens, who desire additional space, choose the co-living unit. Singles and married couples (with no children) also prefer a co-living space when they move to a new city. It helps to build connections through engagement and even at affordable rates.

Let us now see why employees working remotely choose a co-living unit.

  • Residents from diverse cultures

When you have a thirst for learning something new from your mates, a co-living space is the right choice for you. You may encounter people coming from different countries having diverse cultural backgrounds. Open communication with these strangers will surely be helpful in your life in some way. Moreover, if you have been employed for a remote job and you need to travel frequently, you can choose the shared space to live.

  • Better networking opportunities

As you are in a co-living unit, you will get a built-in community. Networking, making friends, and knowledge sharing become easier. Other benefits may include finding new business ideas and professional synergies, as many co-living spaces conduct numerous activities and workshops. Furthermore, co-living spaces aid both introverts and extroverts in socializing and networking.

  • Modern amenities at a budget-friendly rate

Due to high rental rates and slow wage-growth, co-living has turned out to be the most attractive housing option because of its affordability. If you have chosen a co-living facility, you have to pay a preset rate for all amenities and electricity. Moreover, you will get cooking gas, high-speed Wi-Fi, kitchen, dining zone, fitness center, media rooms, and other services, depending on your preference. The rates may vary accordingly.

With the rising trends of co-working, we have found increasing popularity of co-living space. You can easily relocate to some different places for professional purposes. Collaboration and openness are two significant aspects of co-living spaces to attract remote workers.

>> Having trouble launching your Digital Nomad Lifestyle? Get professional help from our Digital Nomad Gurus!