Written by: Guo Zhenhao
Co-living spaces are attracting the interest of young professionals, and for good reason. These shared accommodations are a practical and affordable way to reside in large, expensive cities like Kuala Lumpur, Malaysia’s capital.
Benefits of Co-Living Spaces in Expensive Cities
Co-living residents share rooms, bunk beds, and bathrooms. That doesn’t sound glamorous, but co-living allows young tenants to gain access to premium facilities that they wouldn’t be able to afford on their own, such as high-rise condos in the heart of the city. Renting also provides greater flexibility, a boon for those working in the gig economy. Professionals working in informal employment sectors often have lower credit scores, making it difficult for them to secure housing loans.
Co-Living Sees Positive Outlook as a Business
Co-living real estate platforms have been gaining traction in recent months. These businesses are built to meet the growing demand for accessible and reasonably-priced housing as the cost of living continues to rise in major cities.
Co-living providers are now drawing on the power of technology, allowing tenants to make payments and view listings on applications. Investors have expressed interest and confidence in the business plan through their willingness to invest.
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