Co-living space is a new concept in the market of India. Co-living, which is, in a sense, the co-working equivalent of finding housing.
Co-living space came into existence in 2012, offers both co-living and co-working in London. They offer 546 rooms spread across 10 floors, featuring a movie theater, a library, a gym and a restaurant, plus a shared kitchen on every floor.
Co-living is the trend of living with many other people in one space that encourages its residents to interact and work together.
Co-living currently appeals mostly to younger generations, especially digital nomads who want to be able to travel and don’t want to worry about a mortgage. This type of lifestyle has a heavy emphasis on agility. The ability to move from place to place without being tied down by a lease is freeing to some people.
Co-living spaces solve many problems that digital nomads and millennials face. When moving to a new city, the norm for many is to sign a one year lease, fill the space with your furniture, set up all the utilities, and when the year is up, you must either move or renew the lease.
Co-living spaces are just starting out and the concept is completely new to many people. Keep in mind, though, that new concepts can become the standard—Airbnb, for example, was considered odd until it disrupted the entire hospitality industry.
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