Singapore tempts younger expats with cool co-living spaces

As rentals and property purchase prices soar, Singapore is reaching out to younger expats with the idea of shared co-living spaces.

Singapore is now a major magnet for millennials, younger expats and digital nomads, few of whom could afford to purchase or rent single properties in the expensive city. Co-living spaces allowing interaction with other like-minded residents are the logical follow-on from the co-working spaces popular in the region. Expats arriving for career opportunities in the city-state will be offered affordable living with the advantage of sharing rooms or apartments with other younger expats. Building relationships, interacting with other tenants and sharing experiences in their new expat lives is expected to be a win-win scenario by the developers of the innovative projects.

Co-living spaces are a step up from the usual communal hostels and a step down from private home rentals and serviced apartments, both of which can be expensive for newly-arrived expatriates looking for work or working online. Sharing common living spaces can also help new arrivals to integrate and form new friends, and are also expected to be popular with groups of students. Unsurprisingly, the concept is now being taken up by Singaporean locals, as independence has a strong appeal for young people in the city. At present, some 500 co-living spaces are occupied, set in 10 locations in Singapore and also found in five Hong Kong districts. The developers are gearing up for a further rise in interest by offering increased access to lifestyle needs as well as developing entire buildings aimed at co-living on a grand scale.