Co-living is far more than a flat share or university halls. Co-living represents a new option for young professionals wanting to live communally with like-minded people and professionals in an urban environment. This new concept is proving very popular with young professionals and millennials who are living and working under the same roof.

Many young people have found co-living to be a perfect option for them. With facilities, opportunities and importantly, a well-maintained and established place to live and work, co-living provides opportunities that few other living arrangements, particularly those in city centres are able to. But what makes co-living so beneficial for young professionals?

Co-Living, Networking and Thriving

For young professionals and entrepreneurs, co-living offers a chance to network with other like-minded individuals. Living and working under one roof with other young professionals can be incredibly helpful and stimulating when it comes to building links with other businesses and establishing synergies that benefit both parties.

This doesn’t just mean young professionals can spend their time socialising with other motivated and exciting individuals from all walks of life. The very concept of co-living lends itself to building mutually beneficial business connections and a strong network for many years to come.

Co-Living is the First Step to Independence

For many young people the step to independence is moving out from their family home and finding a sense of autonomy in a new environment, with new people. Co-living is the perfect first step for those setting out on their own. Not only does co-living encourage a sense of community among its residents, but for young professionals co-living spaces also support entrepreneurship by providing an atmosphere for sharing ideas, knowledge and experiences.

As well as removing the potential isolation of moving to a new city alone, co-living spaces act as a melting pot for like-minded young professionals to share ideas and build partnerships, something which can only be done when living and thriving under the same roof in the same city.

Co-Living is Cheaper Than Renting

Another advantage to co-living for young professionals is the cost element. Generally, co-living allows young professionals to live in big cities at a fraction of the cost of renting alone. Co-living facilities generally come furnished which means another large cost is taken away for young people newly moving out from home.

For those starting a new business venture, every penny counts. Many young people moving to a new city will not have much money saved, making co-living a great option and leaving more money to use for whatever you choose; business or pleasure.

Thanks to co-living spaces, millennials are managing to move into otherwise unaffordable and expensive big cities. Thus, the likes of co-living in London, Copenhagen and even co-living in Europe and New York are starting to show signs of significant growth amid increased interest.

In cities like these, getting a foot on the property ladder is almost impossible for young people, who may still be highly qualified and entrepreneurial young people. They are however, unlikely to have large amounts of money saved. Co-living means sharing service costs and benefiting from flexible rental terms.

Co-Living: A Global Trend

According to an analysis carried out by market consultancy, Euromonitor International, co-living for young entrepreneurs was a major trend in the global real estate sector in 2018.

For young professionals, this housing choice offers an interesting lifestyle that facilitates a vibrant and professional community, as well as a relatively affordable living arrangement for young people wanting to live in a big city with new business opportunities.

Many co-living spaces also offer laundry, kitchen, swimming pools, work spaces, leisure areas, gyms and spa. Although not every space will offer these facilities, they are common. For young and flexible professionals and digital nomads these facilities, plus a private en-suite bedroom and organise events for residents to get together and socialise mean co-living is an excellent choice offering a huge number of advantages when it comes to facilities.