Co-living, a shared housing arrangement, is becoming increasingly popular among millennials and young professionals in Hong Kong, where 76% of adults aged 18-35 are still living with their parents. In fact, the market for co-living spaces there has nearly tripled in the last two years. Presently, there are between 1,000-1,500 co-living habitants and at least 15 co-living occupancies, according to investment management company, JLL. A typical unit, resembling a Japanese-style capsule hotel, measures 2x1x1 meters and cost as low as $450 per month to rent. Units normally have multiple bathrooms, a kitchenette and a laundry area, which can accommodate six or more adults in tight corridors. According to City University Professor, Yip Ngai-ming, who studies how young people live in Hong Kong, co-living seems to be beneficial for all parties involved. For tenants, co-living offers an opportunity for more independence at relatively low costs as well as intellectual discourse with their peers. For operators and investors, they have more flexibility to adjust rents as this lifestyle continues to grow in popularity.
