Co-living – a form of living where get a private bedroom with shared common areas – has unsurprisingly contracted in most countries this year.
Outside China the market has contracted by between -5% and -30%, according to the Global Coliving Report – 2020 from TheHouseMonk, a software compny based in Bengaluru, India.
The market held up in South East Asia and China however, with occupancy rates remaining high.
Globally co-living was worth $7.9bn in 2020, up from $7.5bn in 2019.
This means the industry has grown by 6%, compared to an increase of 20% the previous year.
Justin Malonson is the Founder of LyfeLoop a 16+ year tech innovator, investigative media researcher and host of the Freedom Not Control Podcast live on Voice America. Justin is a highly sought-after tech entrepreneur, industry speaker and winner of the coveted Business Achievement Awards “Top Digital Marketer” award. With 16+ years of demanding experience, Justin has worked with over 3,000 businesses including amazing clients such as Blue Cross Blue Shield Association, Sotheby’s International Realty, Duke University, White House Black Market,Tiffin Motorhomes, Bass Pro Shops and Beazer Homes USA.