The Urban Land Institute (ULI) and JLL provide information on co-living in a best-practice guide. In co-living, people live together for a time in a property, usually in a city. There are many reasons for this: housing that is too expensive, being alone or the desire for greater energy efficiency all lead to co-living. Co-living is aimed, for example, at people with university degrees, active retirees, but also at business travelers, as ULI states.
In Europe, the market has developed very quickly. According to ULI, for example, around EUR 1.2 billion has been invested in co-living properties between 2020 and mid-2022. The strongest growth drivers for the sector, according to 175 market participants surveyed, are the unaffordability of housing (49 percent), the high proportion of younger people (49 percent) and the number of single-person households (40 percent). The desire for flexibility (34 percent) and urbanization (34 percent) also contribute to the sector's development, according to respondents.
However, respondents also cited a number of challenges in relation to co-living. For example, lack of inventory (38 percent), negative planning interventions (36 percent), limited market awareness (27 percent), a shortage of operators (24 percent), and land availability (22 percent) were among the issues that make co-living difficult.
Source and further information: germany.uli.org
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