What is Co-living?

Humans are social creatures that have been living in groups and communities for 99% of our existence. As Aristotle, the famous Greek philosopher once said ‘Man is by nature a social animal..and society is something that precedes the individual.’ This indicates that throughout the past, the majority of us have lived, worked, played, and died in groups of 20 or more. But it’s only recently that the term co-living has started to become more common.

In this article, we will be exploring what co-living is, the benefits of co-living and why it is time for you to consider adopting it.

What is co-living?

Co-living or community living is a newly established housing concept where residents share living space, interests, and values. Generally speaking, the concept of shared living space is not new but the idea of co-living has been reimagined by the millennial generation who value things like community, collaboration, social networking, and a shared economy. To put it simply, co-living promotes shared living spaces with the central idea of focusing on building an ecosystem of support, connection, and collaboration.

What’s the difference between co-living and co-housing?

Co-living typically fosters a living environment where residents have their own private space (namely bedroom and bathroom) while sharing other communal living spaces. On the other hand, co-housing is more like living in a university dorm with shared private spaces or is generally defined as a number of people sharing a household that has not been directly designed to be shared.

Why has co-living become so popular?

Co-living is most popular in major cities where housing prices are steep. It has become an ideal alternative living situation for students, young professionals, and digital nomads. Unlike traditional apartments, co-living offers affordability, flexibility, included amenities, and a sense of community.

While co-living began as a development of student housing, the unaffordability of the tight urban housing market has contributed significantly to its rise. Data from Pew Research Center indicates that the share of young adults in the U.S. living in multigenerational homes has more than doubled from 7% in 1971 to 18% in 2021; citing financial issues as the main reason. In Hong Kong, where living space has skyrocketed in the past decades, 76% of adults ages 18–35 live at home with their parents, driving co-living to become a popular solution.

So if you’re looking for an affordable living experience with flexibility and a built-in community, finding a co-living complex might just be the solution for you. Let’s further explore the numerous benefits of co-living in our next blog.