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Real Estate Industry Trends: Coworking and Coliving

Sharing economy and particularly collaborative consumption is a worldwide trend. In the current economic situation, coworking and coliving can become a viable alternative to expensive office and housing rent. These trending words hide new business opportunities. So what are coworking and coliving, what are their features and advantages?

Coworking: Productive Environment

Recently, the segment of coworking has become a full-fledged player in the real estate market, and it is constantly growing. Coworking can be widely regarded as one of the hottest commercial property market trends.

There are various types of coworking: both independent projects and those which are parts of the large business centre infrastructure. A well-organised unit can always be used by other tenants if required. This opportunity allows them to rent smaller areas while reducing operating costs without loss of efficiency. Such objects automatically become more attractive for tenants. That’s why coworking is an effective tool for increasing business centre profitability.

Opinion polls of coworking visitors reveal that the vast majority of respondents like to work alongside other people. Such business environment increases their productivity. Coworkers help each other upgrade their professional skills and become more successful. The most part of the visitors find there some new contacts and acquaintances.

In addition, the level of comfort in coworking cannot be compared to working at home or at traditional offices. Up-to-date technologies and creative design help to feel comfortable while turning focus toward work. You have much more than just a workplace with Wi-Fi. Wide range of additional services may include sport and educational events, conference rooms, leisure areas, free refreshments and what not.

Coworking spaces are accessible 24/7, and this allows to align working schedule with your personal needs. Commercial real estate market statistics shows that this trend attracts not only freelancers and startuppers, but also larger organisations. They see value in numerous benefits provided by coworking spaces, and significant cost-cutting is only one of them.

Coliving: Affordable Comfort

Internet with its opportunities for communication is an integral part of Generation Y. Still it is a paradox that the number of millennials suffering from loneliness is growing. Young people face difficulties in getting out of parental control and setting up their own home. High prices of housing in large cities make people look for less expensive variants.

Coliving is a new trend designed to solve this problem. This relatively new term describes a place similar to a hostel but much more comfortable. Like hostels, colivings provide rooms with shared facilities. But colivings usually have modern interior and light spacious rooms. In most colivings, each tenant has a separate room, but there are units where several people live in one room.

There is usually a laundry, free high-speed Wi-Fi, shared kitchens and working space. Coliving managers purchase sheets, towels, hygiene items and provide weekly cleaning.

But the idea of coliving is much wider than just cheap accommodation. The core of coliving is a hostel for likeminded people. Along with the solution to the problem of inexpensive housing, colivers deal with communication issues. People create  specific inspiring atmosphere that helps them find necessary answers. They join their efforts, cooperate, launch new startups and share their experience. Colivings can unite any groups of people - those who want to find help to jointly solve their problems – startuppers, photographers, artists, musicians. In many colivings, tenants and management organise social activities for all community members. They have dinners and parties together, go to the bars and so on.

To sum up, property owners and tenants shouldn’t be afraid of these new forms of commercial property. Market trends nowadays highlight the general tendencies of globalisation and social interaction typical for millennials.

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