Savills Report – Australian Student Accommodation – Q1 2020 – Spotlight on Co-living
Co-living is emerging as a lifestyle choice and trending as a credible investment option.
Australia’s rigid obsession with the “Property ladder” is stirring with the influx of new housing concepts. A recent shift to the housing journey, from the tradition of living at home until you had enough of a deposit to purchase a dwelling, first occurred with the addition of modern, high quality purpose built student accommodation (PBSA) to the housing mix.
A new rung, and the next step up from PBSA, is being recognised globally as Co-living, or purpose built graduate, young professional, urban, city dweller, community inspired, experience orientated accommodation…..the definition is opaque.
Essentially, Co-living brings together high-quality rental rooms on short- to long-term leases generally under the boarding house regulations, in the same way that PBSA does, but for a different, and slightly older – 25-34 year old – target market. This operational residential asset class is also individualised from PBSA through sophisticated, more mature design tweaks. These properties are differentiated from the new generation boarding house concept, through the use, and delivery of plentiful community orientated amenity spaces encouraging social interactions, wellbeing and experience, alongside privacy in your living space …