Despite the ongoing pandemic, demand continues to grow for co-living, according to Cushman & Wakefield’s new report ‘Coliving During Covid-19’.
In turn, this is attracting interest from investors as coliving grows and scales.
Co-living, in which residents share houses and apartments while retaining their private personal spaces, saw a sharp decline in rent and occupancy when the pandemic struck.
However, in the past two months, there has been a rebound.
“The sustained strength of coliving through the current pandemic can be attributed to what our customers have been saying for years. A home needs to provide a sense of community and add value to everyday life,” said Noah Gottlieb, CEO of The X Company.
“If owners can continue to deliver on that promise, coliving will continue to be successful agnostic of market conditions.”