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