In a world of constant innovation, long-established domestic arrangements are fading, and modernist living is taking a step forward. The latest idea of “co-living” has emerged, described as “large-scale purpose-built shared living developments of at least 50 units” by The London Plan. Co-living presents an alternative to traditional flat shares, showcasing a structured yet flexible approach to shared living, incorporating additional services and amenities, with leases requiring a minimum stay of three months.
Whilst initially assumed to only attract younger demographics, with statistics showing an average resident age of 28 years old, co-living debunks such assumptions, having 20% of occupants over 35. With constant room for improvement, the potential for age-specific developments is expanding, with the ability to cater to varying demographic needs. Beyond affordability, co-living is valued for its convenience, flexibility, and a strong sense of community.
Moreover, co-living plays a significant role in addressing the growing housing demand, with each unit contributing to broader availability. It also serves as a solution to long-term housing challenges, with 70% of residents planning to stay for a year or longer. This evolving model reflects shifting preferences in urban living, emphasizing shared experiences and adaptable lifestyle solutions.
