Co-living is a model of non-family members living on the same premises together. Such an approach has been gaining steam and has lately considerably changed the life in London and the United Kingdom as a whole. This idea became even more popular due to the emergence of housing startups many of which offer affordable living quarters in apartments and houses for several adults to share.
For instance, Gravity is a co-living startup that owns four properties in different parts of London: two in Camden, one in Finsbery Park, one more in Hounslow, and also a house in Reading, a city located an hour’s trip away to the west of the capital. Other similar firms include Mason & Fifth, Pollen CoLiving, and LifeX.
Young professionals who work in London and want to live there are becoming increasingly numerous. Although the demand for labor generally remains unchanged and 23 – 28 year old people in this category make about 25,000 – 35,000 pounds per year, it is growing harder for them to find a home of their own that they could afford, particularly if they want to live near the workplace and do not sacrifice their comfort or high requirements due to excessive rent.
Many co-living projects focus on creating comfortable, stylish, and adaptable housing where cutting-edge technology infrastructure can be installed.
This trend is an additional confirmation of high demand for London real estate. It could be an interesting option for investors.