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By Accord Real Estate Group

Understanding Co Living

April 24th 2019
Tags: Blogroll (elsewhere)

Co Working has dramatically changed the way many people work today and the workplace has been reimagined. And now comes co living (coliving).

Co living houses enable a sustainable style of living through sharing and efficient use of resources and space. Co living offers residents a chance to live and work where they choose without having to spend their entire budget on rent or all their time on a lengthy commute.

By asking tenants to live in a smaller furnished private bedroom and share common space and expenses such as cleaning and WiFi, co living can provide residents with more affordable access to great neighborhoods.

According to the Wall Street Journal, a number of recent projects show that co living is expanding. For example, there is a new Brooklyn based project in the works by London based Collective, Common Adams. According to JLL research, of the available investment grade co living supply in the US, 55.1% was delivered in 2018. Statistics indicate that by 2021, the co living supply is expected to increase 84%. Millennials are demanding alternate living options, as well as young professionals that take short term assignments in new markets.

Co living is a new answer to the issue of affordable housing as well as a good way to continue your professional and personal growth outside the office. Co living is a new kind of modern housing where residents with shared interests, intentions and values share a living space where they’re like a big family.

Some of the companies catering to the housing needs of today’s digital nomads are:

Common, We work We live, Alta, Durst Organization, Property Markets Group, The Collective, Sun & Co, Roam, Medici Living, Co Wo Li, Urban Campus, Zoku, Outsite and The Camp.

Accord Real Estate Group

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