Is co living housing the next big thing for savvy investors in Australia? With the Australian housing market constantly adapting to changing demographics and economic pressures, one trend that’s gaining serious traction is co-living housing, also known as shared living or co living. In the face of a fiercely competitive property market, co living offers a win-win situation for both residents seeking affordability and community, and investors looking for high-yield opportunities. Read on to find out what co living is and why you should consider investing in these property types this year.
What Properties Are Considering Co-Living Housing?
Any property big enough and with the right features for shared accommodation can be considered to be co living housing. Occupants have private bedrooms and common areas like kitchens, living rooms and sometimes even workspaces are shared. These spaces are often designed to be stylish and functional, fostering a sense of community and connection.
High-end co living housing might boast features like lightning-fast internet, professionally furnished common areas and even regular cleaning services. This model allows residents to share living expenses, making it a budget-friendly option for young professionals, students and even retirees who want to live in a social environment without relying on a formal retirement village option.
Why is Co Living Housing on the Rise?
Several factors are contributing to the surge in popularity of co-living housing in Australia:
- Soaring Housing Costs: Affordability is a major concern for many Australians, especially in metro areas. Co living offers a way to live in desirable locations without breaking the bank. By splitting the cost of rent and utilities with roommates, residents can enjoy a higher quality of life in a central location.
- The Rise of the Sharing Economy: Millennials and Gen Z are comfortable with the sharing economy model, embracing services like Uber and Airbnb. Co living aligns perfectly with this trend, offering a shared living experience that prioritises community and connection.
- The Remote Work Revolution: With the rise of remote work, the traditional model of a dedicated home office is becoming less relevant. Co living spaces often include dedicated workspaces, perfect for remote workers who crave a professional environment and the opportunity to interact with colleagues outside their bedrooms.
Why Should You Invest in Co Living Housing?
As an investor, co living housing presents a range of benefits over other types of housing.
- Maximised Returns: Co living allows you to generate multiple income streams from a single property. By renting out individual rooms with access to shared living spaces, you can significantly boost your rental yields compared to traditional single-family home rentals.
- Reduced Vacancy Rates: Co living spaces tend to attract a wider range of potential tenants due to their affordability and appeal to a diverse demographic. With the right location and amenities, you can enjoy consistently high occupancy rates, minimising vacancy periods and ensuring a steady stream of rental income.
- Investment Diversification: Co living caters to a niche market with unique demands and significant growth potential. This makes co-living properties a valuable asset for investors looking to diversify their portfolios and mitigate risk associated with traditional property investments.
Positive Investment Properties: Your Gateway to the Co-Living Boom
Co-living housing is not just a trend; it’s a revolution in urban living. By investing in co-living properties, you’re not just securing your financial future, you’re also catering to the evolving needs of a new generation of residents.
Positive Investment Properties specialises in identifying high-quality co-living opportunities in prime locations across Australia. We offer a comprehensive service, from property selection and acquisition to tenant management and ongoing support.
Ready to unlock the potential of co-living housing? Contact Positive Investment Properties today and let us help you navigate this exciting and lucrative market.
Gil Elliott is the Managing Director and Founder of Positive Income Properties. Gil has a rich background in business consulting and property investment. All of these he gained in his nearly four decades of experience in the real estate and marketing industries.
