Co-living, a term used to describe a living arrangement that is something more than shared space, in growing in Asia, especially in China and Hong Kong.
Typically, a co-living facility will offer tenants small rooms but also shared facilities such as a TV room or a gym.
There is also a social aspect; some facilities have a manager who will organise events. As well as convenience and community, co-living facilities also claim to offer cheaper rent than an individual apartment.
Hong Kong is seeing a growing number of co-living developments – unsurprisingly given its status as the world’s most expensive housing market.
Young workers face the prospect of living with their family until they can afford to buy a small flat; ‘small’ often means less than 200 square feet.
At present, some developments described as co-living are no more than upmarket dormitories for budget-conscious students, while others are just shared apartments with different branding.
However, Denis Ma, Head of Research at JLL Hong Kong, says:
“Though current schemes in Hong Kong are built around affordable housing,…