CHECK OUT THESE HOT COLIVING SPA­CES

Ten­ants can ditch their weekly clean­ing and util­ity bills through the help of re­li­able com­mu­nity man­agers.

Singapore Business Review - - CONTENTS -

Wsin­ga­pore­ans ith monthly rents rang­ing $800-$2,200 per month, coliving spa­ces pro­vide an al­ter­na­tive hous­ing op­tion for

who have long been bur­dened by the costly hous­ing mar­ket in the city. These spa­ces al­low ten­ants to share rooms and apart­ments to build re­la­tion­ships and in­ter­ac­tions amongst its ten­ants as they live with peo­ple with the same hob­bies and in­ter­ests. “On the off­set, co-liv­ing spa­ces like “pri­va­tised” com­mu­nal hos­tels, and hover some­where slightly below the tra­di­tional full pack­age of­fered by pri­vate home rentals and ser­vice apart­ments,” ex­plained Hec­tor Tan, head of mar­ket­ing and com­mu­ni­ca­tions, Hut­tons Asia “Some peo­ple may still pre­fer hav­ing the full pri­vacy of com­mon liv­ing ar­eas that pri­vate apart­ments of­fer. There is that level of as­sured­ness and free­dom. Whereas in co-liv­ing spa­ces, one may have to share com­mon liv­ing ar­eas with other ten­ants.” For Ong Choon Fah, CEO of Ed­mund Tie & Com­pany (ET&CO), “co-liv­ing con­cept and life­style of­fers an appealing al­ter­na­tive to mil­len­ni­als and pro­fes­sion­als, thus the out­look for coliving con­cept ap­pears pos­i­tive.”

This was also echoed by Rohit Hem­nani, COO & head of al­ter­na­tives, cap­i­tal mar­kets at JLL Asia Pa­cific. “In the near term, mil­len­nial ex­pats are likely to be the main oc­cu­piers, although the list of users could be ex­panded to in­clude other groups such as for­eign stu­dents, or even se­niors, as the con­cept could ap­peal to a broader age spec­trum be­yond ex­pat or lo­cal mil­len­ni­als,” Hem­nani said.

“Co-liv­ing is be­com­ing a trend as the younger gen­er­a­tion cher­ish mem­o­ries and experience­s as as­sets rather than phys­i­cal ones,” Wendy Yap, owner of CP Res­i­dences said. Sin­ga­pore Busi­ness Re­view com­piled a list of the hottest co-liv­ing spa­ces in the city. Luz Wendy Noble

Co-liv­ing spa­ces prom­ises a ‘com­mu­nity’ for new­com­ers in Sin­ga­pore.

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