Coliving Trends in 2021

The year 2020 has changed everything in our lives. From the way we
live, play, talk, work, interact, eat, travel, earn and even socialize outside
our home spaces.

The major hub spot cities for coliving are Bangalore, Hyderabad and Pune.

The impact on the housing sector has been vast- real estate companies
have witnessed a loss, apartments unsold, PGs and hostels are seen
empty, interior designers left with no work and much more. The
pandemic has forcefully left many unemployed and sent them back to
their respective hometowns. These events have led the operators to
rethink and redesign the whole system and adapt to the necessary
changes in this sector.

Here are 5 coliving trends that are foreseen in the year 2021 ahead:

1. Regular Sanitisation and safety measures:

The pandemic has led coliving operators to take a lot of
sanitisation and safety measures in their spaces. These include
efficiently trained housekeeping, sanitisers installed at every corner,
availability to medical assistance, rules for social distancing, doctor on
call, frequent cleaning and other safety measures. These factors will act
as a pull force for inviting students, working professionals and others to
the premium living spaces.

2. Target a larger audience

The pandemic has certainly reduced the requirement for PG or hostel
type accommodation in big cities, hence the coliving sector needs to
buck up and search for more variety of customers. These can include
short time renters, international or Indian medical tourists or subscription
based renters.

3. Diversify to TIER 2 and smaller cities

The pandemic has compelled working professionals to move out of big
cities as a cost-saving measure. Hence, the co-living market in TIER 1
cities will certainly take time to come back to the pre-covid period.
Coliving companies can research and set up their spaces in TIER 2 and
3 cities like Guwahati, Hubli, Jamshedpur, Vijayawada, Belgaum, Ujjain
and others.

4. Rise in Acquisitions

In the section of the shared space, there might be more acquisitions to be
seen. To meet the flourishing business continuity demands, big branded
players would prefer to offer living spaces at a number of locations
instead of cramming them all in one place. Consolidation was already on the
mind in the pre-Covid times, and now brands who have capital will begin
to purchase smaller players.

5. New Business Models

The post-pandemic time has led to employees requiring their living
spaces near to their offices. They would like to reduce their travelling
costs and time. With this, many coliving operators are beginning to
construct living spaces near markets, shopping complexes, IT hubs,
hospitals and other necessary spots. There would be new business
models that may start to emerge as organisations wouldn’t want their
employees to be at any kind of health risk.

6. Individual attention

The pandemic has led to self prioritization and individualism. Now, more
co-living operators will focus on individual attention, customised and
personalised spaces as against the concept of community shared living.
The pandemic has brought in a whole lot of new changes or trends.
However, the amount of operations in 2021 depends on the lessons
taken from the 2020 year. Let’s hope that these upcoming trends bring
back the much-lost revenue and name to the co-living operators.

So, these are the top coliving trends in 2021 according to us. I hope You
liked it.