Co-living is a natural extension of the coworking concept, which are all part of the sharing economy. The trend is catching on fast with China leading the pack in Asia.
Co-living is a form of housing where residents share living space and a set of interests and values. It is part of a modern, urban lifestyle that values openness and sharing, and aligns with the general shift towards ridesharing/carsharing and coworking. In particular, co-living can be seen as an extension of the co-working trend that see people share office space and common facilities in order to save costs and share ideas.
Co-living houses may offer short-term accommodation and host regular events for residents, many of whom are students, startup founders or employees, young professionals, as well as artists and creatives. In a sense, it is student accommodation for grown-ups.
China is a trailblazer in this space in Asia. YOU+ International Youth Community already offers rooms of between 22 to 50 sqm to young people in Guangzhou and Beijing.
The trend is also catching on in other markets. Campus Hong Kong operates a co-living facility after converting 48 one-bedroom apartments into four-bed dormitory rooms. In India, there are currently four startups that focus on co-living operating out of Gurgaon, and two based out of Bengaluru.