Rental is changing: Coliving is the trend of the future
Co-living is the modern concept for working people. So-called digital nomads live and work together and develop the innovations of tomorrow. The number of freelancers has increased by 400,000 people in the last 10 years. A growing customer group for the housing industry with specific requirements. This presents the housing industry in particular with challenges, and at the same time provides opportunities for new rental concepts.
The essentials in brief:
- The idea for co-living originated in California and is now also arriving in major German cities such as Berlin and Hamburg.
- Leisure and work are being increasingly mixed and allow more flexibility.
- The housing industry has to react in particular for new builds and renovations.
- The crux of access control: modern life requires innovative key management.
What is co-living?
Rumour has it that the future belongs to so-called co-living concepts. This is the modern shared flat for working people. They not only share an apartment there, but also develop ideas and business plans together. The world of work is in a state of upheaval. Young people in particular want to make their everyday work increasingly independent. Sitting 9 to 5 in the office does not fit into the concept of life for many.
What does co-living mean?
Co-living is aimed at self-employed people, start-up founders, digital nomads or students. Here, people both live and work together under one roof. A high level of convenience and the establishment of an efficient network have high priority here.
The boundaries between work and leisure are blurred in co-living houses. In the shared lounge, the first topic of discussion is last weekend’s party, followed by the roommate’s business idea.
This is not the classic student flat share. Motley kitchen utensils, battered plates and the parents’ sagging sofa have no place in a co-living space. Rather, you will find a modern furnished apartment. Any dispute over the cleaning plan is also superfluous. If you rent a co-living space, you usually get a complete package: Rent, ancillary costs, cleaning, co-working and – most importantly – high-speed internet are taken for granted. The rent is above the normal rent index.
Please also check ➠ Cheap apartments for rent
9 to 5 was yesterday: Freelancers and founders seek flexibility and community
It is obvious that co-living is not the ideal concept for every professional. As an employee, working from home every now and then is all well and good, but working from home every day? How is that supposed to work? For many young people this works surprisingly well. So-called digital nomads can do without a permanent workplace in the office. All you need to work is your laptop and an electrical outlet, so you can choose your work environment.
Sitting alone at the computer within their own four walls every day does not appeal to some. There is a great danger of getting lonely. In addition, a creative environment with like-minded people is often motivating and stimulates ideas. This is why founders and young freelancers in particular seek out co-working spaces. One example is WeWork. Not only is there the coffee flat rate, but also the company of other creative minds.
Coliving motivates and inspires
Opportunity for the housing industry
This development in work mentality not only affects the requirements of the modern labour market. There are opportunities in particular for the real estate industry. Suitable areas for co-living must be created.
Increase tenant satisfaction: Co-living for residents
Anyone who pays a lot of money for their place in the work- and flat-sharing community expects a modern environment in a prime location. This means a new business model, especially for the housing companies in major German cities.
Increased flexibility: Versatile use of space
Co-living also fits into another trend in the real estate industry: The same building is increasingly being used in different ways. Areas must have a modular structure and be able to adapt to the needs of the residents or co-workers. In addition, the use of space will develop so that one and the same area can be used in very different ways. Co-working spaces are also places for events, workshops and parties.
Increased rental income and lower costs
From apartment buildings to office buildings and later used as commercial space – in order to largely avoid vacancies in buildings, modern buildings must be able to adapt to shifting demand. For example, attention should be paid to non-load-bearing partition walls during construction.
Co-living houses can adapt very well to shifting demand. This means that there are no later high costs for any renovations. So-called PropTechs support the real estate industry in this.
Residents of co-living houses like to have a taste of the increased living comfort through furnished apartments, various leisure activities and the network of like-minded people. In this way, housing companies can achieve higher returns than with the conventional rental of apartment buildings.
Use vacancy: Meeting the high demand for office space
The overall use of a building also changes. The combination of supermarket, shopping centre, living and working is also gaining in importance due to the increasing population density in large cities. In Berlin, for example, available office space is becoming increasingly scarce. The top prices are already 30 euros per square meter. In addition, as in residential construction, the newly built office space cannot meet the increased demand.
Smaller start-ups in particular are switching to co-working spaces and find an ideal working environment in them. It has to be modern and flexible. The working day does not end at 5 p.m., but with the last idea. Co-living and shared spaces should therefore generally be an issue for new buildings and renovations. Co-living spaces often extend to an entire building. This not only makes it possible to live together in a modern apartment, but rather there is enough space for conference rooms, workshops, events and even a fitness room.
The four cornerstones of co-living concepts:
- Good connection: Fast access to the city centre is essential for commuters and entrepreneurs.
- Trendy: A modern interior design appeals to residents.
- Amenities: Modern communal kitchens, lounges, cinema, fitness room, laundry service and co-working spaces.
- Community: Regular networking events to exchange ideas with like-minded people.
These are the pioneers of the co-living trend
Some companies have already recognized the potential of the co-living concept. The trend, which originally came from California, is spilling over into Germany and Austria.
Alexander Tower – living at the highest level
One example of the versatile use of buildings is the so-called Alexander Tower in Berlin. The luxury building received planning permission in 2017. There are 35 floors with a total of 150 metres in height. These will include apartments, office spaces, restaurants, shopping, a cinema and a fitness centre.
In the future, the residents will work, spend their free time and live under one roof. But if you want to move into one of these co-living Apartments, they come at a price: The purchase price for the lower floors is around 5000 euros per square meter. On the higher floors, the price per square meter is expected to rise to over 10,000 euros.
Quarters – Co-living in Berlin
The Berlin Quarters Co-living residential building attracts with more affordable prices. Here a 12m² room does not cost more than 589 euros a month. But its residents do not have to give up one or two luxuries! Thick mattresses promise a comfortable sleep, joint events provide networking and digital services promise efficient living.
Rent24 – Exclusive co-living concepts around the world
With the global co-living provider Rent24, residents can stay for single nights or longer stays. According to the company, the average rental period is three months. In addition to the residential units, there is also a co-working space in which founders from all over the world exchange ideas.
After work, you can go to the in-house cinema, fitness area or lounge area. Other providers include e.g. the Berlin co-living start-up Medici Living (approx. 800 rooms) and the smaller provider Projects (approx. 130 rooms). The minimum length of stay here is three months.
Co-living in Austria
Co-living is also coming to Austria with colivi.com. Colivi offers high quality furnished rooms in Vienna and Graz at affordable prices. For more info please visit Graz apartments for rent or Vienna apartments for rent.
