There are often two noticeable elements when it comes to co-living — the cost savings through the sharing of facilities and amenities, while still having one’s privacy and personal space, and the sense of community among the residents of the space.
According to Rahim & Co International Sdn Bhd director of research Sulaiman Saheh, co-living is seen as a way of having an affordable living space by sharing costs and common areas with other residents without completely forgoing your privacy. The concept embodies a more communal way of living as opposed to the traditional, more isolated single-dweller home.
“This niche asset is favoured as a complementary product in an integrated development, especially in transit-oriented developments (TODs) and commercial and education hubs. The concept was born out of the co-working and sharing economy culture that is growing among millennials and the young working population,” he says.