CO-LIVING SPACES WHAT, WHERE AND HOW ?
Co-living space is not a new idea to overseas consumers, the idea
of residents sharing space for living interestingly dates back to as early as
in 1933, when the first shared living space came up in North London known as
‘Isokon’, and was established by Wells Coats.
Amenities, such as a shared communal space, workspace, and amenities
such as a laundry area much similar to what the modern-day Co-living spaces offer was available then. ‘Isokon’ was a part of greater effort to advance
modernist discourse in Britain during the intra-war period between World War I
and World War II.
Much similar to the initial days, Co-living spaces are built
around the idea of community interaction and building an atmosphere of
interaction among the genders. But in a country like India, which has a long
cultural history of a reserved idea of sharing living space among individuals, not of known acquaintance makes one question the success of such ideas. Data
shows that, despite these socio-cultural barriers, Indian millennials have
embraced co-living really well and names like Zolo Stays, Co-live and OYO Life
are proof of that. These companies are already operating well over 1,00,000+
beds across India and plan to increase them rapidly to meet the ever-growing
demands.
What is co-living?
Co-living is the trend of living with many other people in one
space that encourages its residents to interact and work together. They are
set-up in mostly Tier-1 cities where the target residents are young working
professionals and the cities are expensive to live and hectic work schedules
leave zero to none work-life balance. They are most often run by companies
Co-living is a new kind of modern housing where residents with shared interests
and values share a living space where they're almost like a big family.
- ·
Common Recreational Spaces
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Common Dining Facilities
- ·
Sharing Expenses
- ·
Amenities such as Pantry, Laundry,
Entertainment and much more.
- ·
Encourage Interaction
- ·
Quality Wi-Fi facilities for the Digital
Nomads
CO-LIVING AND CO-WORKING, THESE TWO
HAVE MUCH MORE IN COMMON THEN JUST THEIR NAMES. HOW DIGITAL NOMADS ARE
INCREASINGLY MOVING TOWARDS THE ‘CO’ CULTURE.
They
share much more than a similar name, collaboration and interaction topping that
list. A novel approach to daily activities, co-living can double as a
co-working. Ease of networking by providing engaging amenities and the
enjoyment of living with others who share similar interests. Co-living is still
mostly an urban trend, especially in India, such spaces can only be seen
setting up in Tier-1 cities such as Bangalore, Pune, Mumbai, Delhi and
Ahmedabad.
WeWork, an American commercial real estate company that
provides shared workspaces for technology start-ups and services for other
enterprises. If you live in Bangalore, chances are that you might have come
across this name. WeWork offices are beautiful pieces of architecture, modern
and aesthetically appealing, but mind you WeWork provides much more than fancy
office buildings, they offer co-working spaces to entrepreneurs, start-up
companies, freelancers and even larger enterprises. Companies operating out of
such shared offices have the opportunity to collaborate with other companies
working in the same space, start-ups can mature easily by working out of such
spaces, as the employees have a chance to share and gain experience and
knowledge.
Co-living
and co-working spaces allow individuals to come out of their personal cocoon,
learn and adapt, share knowledge and most importantly satisfy the most basic
need of a human i.e. ‘Socializing’, a constant need to feel included and interact within the society.
Why
a Co-Living Space?
The target consumer group is young professionals and students. Major Rental
Housing companies like OYO Life, Zolo Stays and
Nestaway are working on a business model which is providing alternatives
to a saturated unorganised rental sector, which is plagued by problems of high
rental lease agreements, poor facilities, utilities.
Sources :
Wikipedia: Coliving
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