The Rise of Co-living

1. Understanding and rise of co-living within some of the world’s largest and most popular cities. What is co-living? Co-living is an approach to housing and living which prioritizes the importance of connections, community, and relationships. It aims to get us not only knowing our neighbours names again, but is determined to bring together people from all over the world, to build strong, resilient and dynamic communities. Co-living used to mean shared rooms, bathrooms and kitchens - with the added benefit of communal spaces for all. Now it is looking a little more sophisticated - new co-living complexes and developments have private apartments or flats, with no sharing of bathrooms or kitchens, plus the communal spaces that have always made co-living what it is. But even the evolved approach to co-living, puts people and community first. This is increasingly important as more of us find ourselves living in cities, and as the growth of remote work has the potential to isolate us more and more from our neighbours and communities. The rise of co-living The rise of co-living can be seen across diverse, international cities - from it’s rise in capital European cities, co-living in London, to co-living in Berlin and Warsaw, to its new debut in diverse cities such as Dubai and across Asia. There are several reasons for this growth in co-living in urban centres across the world. These reasons include - 1. A global housing crisis - large population growth especially in urban centres (the centre of a country’s economy and creative scene), combined with a shortage of new housing development, has pushed urban property prices to record high levels. Combine this with stagnated wages and huge job insecurity, and many people are finding themselves increasingly priced out of the urban centres even though they are where they need to be for work. What this crisis has created is a need for innovative and creative solutions to solve this housing crisis - and co-living, as a communal way of life, developed from this need. 2. A changing society - urban populations are choosing to marry later in life, and start having children later in life too. This is for many reasons, both economic and social, but what it is creating is a continued demand for smaller sized, better quality homes in more central locations. People are not looking for larger family homes, in more family friendly areas, from such a young age - they want what co-living offers, great housing in great locations, with plenty of opportunities for social interactions and events. 3. The rise in urban isolation - increased remote work, and the growth of urban centres has led to many urban residents feeling more disconnected from their neighbours and

2. communities than ever before. This social isolation is known to have a significant and detrimental impact on the mental and emotional health of those it affects. Co-living was developed to address this need for connection and community, and aims to both prevent and solve the issue of social isolation, especially amongst a young population. There are many reasons for the rise in co-living in recent years. These reasons are both social and economic, and have been triggered by the large growth of urban centres, and the positions they occupy as a magnet for professionals, and creatives alike.