Last week, we at Artof.Co held a webinar on the latest coliving trends and market updates. As you embark on this article, prepare to be guided through a journey that unveils the latest coliving trends, illuminates market dynamics, shares intriguing statistics, and introduces the bold newcomers who are reshaping the coliving industry.
But, before we delve into the captivating world of market trends, let's establish a solid understanding of what coliving is and how it's evolving in today's ever-changing landscape.
Coliving, an innovative shared housing concept, brings residents together in a dynamic community within a single building. In today's fast-paced world, coliving transcends mere accommodation—it embodies a housing-as-a-service approach. Here, a third-party operator steps in, orchestrating a seamless, all-inclusive living experience.
Now, let's explore the three primary categories of coliving spaces:
Type #1: Apartments
Coliving has evolved into the rental of 4-6 room apartments across cities. Here, operators offer private rooms and shared communal spaces such as kitchens and living rooms. Operators in this category can be divided into asset-heavy and asset-light models.
As an illustration, one of their French locations—a 6-unit apartment where each resident enjoys a private room and bathroom. The apartment spans three separate floors, with the top two dedicated to private rooms and the bottom floor housing communal spaces like the kitchen and dining-living area.
Type #2: Houses or Larger Apartments
This typology encompasses spacious houses or larger apartments accommodating 12-18 tenants. What sets them apart from the apartment type is the provision of outdoor spaces and, at times, interest-based areas. La Casa coliving, located in Paris, France, exemplifies the asset-heavy model, while Colonies represents the asset-light approach.
Type #3: Large Developments
The latest trend in coliving involves large developments comprising 150-500+ units, offering accommodation on an expansive scale. These developments boast a wide array of shared spaces and services, including coworking areas, libraries, gyms, cinemas, restaurants, event spaces, rooftops, and outdoor areas. These shared spaces are optimized to their full potential.
An exemplary case in point is Cowool, a hybrid hotel-coworking-coliving operator located in France, with 100 to 150 units per development. By 2024, Cowool aims to establish itself as a major player in the French market, offering exceptional amenities and services, functioning as a blend of Coliving, Hotel, and Coworking spaces.
Coliving Market Trends
Over the past decade, interest in coliving has steadily grown, fueled even further by the COVID-19 pandemic. Remote work opportunities have spurred individuals to explore the possibilities of coliving and coworking in diverse destinations.
Amount of Coliving Brands
The coliving arena has witnessed a remarkable surge in the number of brands. From a mere handful in 2016, the count has skyrocketed to over 1700 brands in 2023, testifying to the sector's explosive growth.
Specialized professionals are increasingly gravitating towards the coliving sector, creating a balanced mix of expertise. A notable trend is the emergence of hybrid operator-developers-investors, a phenomenon not prevalent during coliving's early days in 2015.
The Arrival of Traditional Developers
In recent years, and especially since 2021, traditional giants in student housing and residential development have ventured into the coliving sphere.
Notable examples include Nomo, a brand under development by Bouygues Immobilier, focusing on private apartments in shared buildings, boasting a substantial internal funding of 450 million euros. This project stands out for its biophilic design and meticulously designed private spaces by Cutwork Studio.
Countless other noteworthy endeavors, such as the Lilo Puteaux project introduced by Paris La Défense and developed by Freo and Nexity, promise to inject vitality into the coliving landscape. Opening in Paris, France by 2024, Lilo Puteaux will provide 644 units for students and young professionals, replacing the antiquated Le Guillaumet office space with a modern living experience.
Operators Are Scaling Up Globally
Coliving has transcended borders, attracting global attention. New coliving developments are sweeping into Europe, driven by major players from Asia and North America.
Lyf, for instance, is a prime example of a large-scale development project, expanding its reach from Asia to Europe, with developments slated to open in Vienna, Austria, by the end of 2023. It caters primarily to youth and digital nomads, offering innovative coliving spaces complete with multimedia hubs and living labs.
Another standout is Node Living, currently managing around 500 units across Europe and North America, with plans for several hundred units in Spain, including a stunning Madrid development. This 22-floor tower will become Madrid's 11th tallest, featuring 707 units, 888 beds, and expansive indoor and outdoor communal areas, all while achieving BREEAM Outstanding certification.
Lastly, the coliving space dedicated to remote workers, Outsite, has experienced significant global growth, with a presence in 33 cities in North America, 12 in Europe, 1 in Asia, and 1 in Africa. Outsite caterers to digital nomads, freelancers, outdoor enthusiasts, startups, and company teams, offering a variety of housing typologies, predominantly focusing on houses accommodating up to 15 people.
Rise of Private Coliving Entrepreneurs
The coliving industry is witnessing the entry of numerous solo-preneurs and private entrepreneurs, adding diversity to the landscape.
Take, for instance, Neighbourgood in Cape Town, South Africa, offering a unique house-type project accommodating 32 residents, complete with a vibrant interior and outdoor spaces, including a swimming pool.
Another notable mention is Sun&Co., a renowned coliving space in Javea, Spain, catering specifically to digital nomads. This project, designed as a house with shared and private rooms, stands out not only for its picturesque location but also for its excellent coworking spaces and organized professional workshops.
Join Us for the Next Webinar
At Artof.Co, we're at the forefront of the coliving revolution, hosting a series of webinars. Don't miss out—sign up for our newsletter to participate in our upcoming webinars, covering topics such as Operational Best Practices, Coliving Marketing, Technology Choices, and Concept Creation.
Become a Coliving Expert
Get insights into the coliving industry, best practices and learnings from 200+ coliving companies with the Art of Coliving book.
The Art of Coliving is the result of a 3-year journey of interviews, research and applied coliving work:
- Processes to build community
- Internal team processes
- Best practices in design and architecture
- Examples of brands that work
- Different ways to monetize your coliving
- Tools and technology to run your operations