Co-Living: More than just renting a place in Malaysia

By Tan Ai Leng / EdgeProp Malaysia | April 30, 2018 5:21 PM SGT
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Ascott Ltd has simulated a co-living lab under its lyf brand in Singapore — lyf @ SMU — to understand the key elements of communal living. This space is the “Social Kitchen” area. (Photos by Ascott Ltd)
Inspired by the co-working trend, people are now more open to the idea of space-sharing with strangers. Co-living could be trending next in Malaysia, considering laments over housing unaffordability, without having to forsake amenities, facilities and lifestyle requirements.
Consulting firm Savills Malaysia Sdn Bhd’s research and consultancy director Amy Wong tells EdgeProp.my that expensive houses in city centres, especially in developed countries like Hong Kong and Singapore, have led to the emergence of co-living as a viable option for young professionals and students.

Live and work at The Hatchery Place

“I see the co-living concept as an extension of the hospitality sector as it operates somewhat like a hotel with facilities and events for long-term guests. From my observation, the co-living concept appeals to young, single working adults in their 20s and 30s, who spend most of their time out of their homes,” she added.
For Exastrata Solutions Sdn Bhd CEO Adzman Shah Mohd Ariffin, co-living seems like a natural progression from co-working spaces.
“The idea of space-sharing could work well as it fits the needs of millennials and young start-up entrepreneurs, who need a space with all facilities intact and accessible to all amenities, yet not isolated from their business circle,” he says.
According to him, it is an ideal accommodation option for those who have just moved to a new city, including expats looking for short-term accommodation while in transition to getting a more permanent residence.
Hence, he believes co-living spaces that come with co-working facilities, as well as easy access to other amenities, will be more appealing to young professionals who are looking for a space to both live and work.
“Unlike renting rooms, no deposit is needed. When rental is paid, ‘tenants’ could just move in with just their luggage as all furniture and necessities are provided,” he adds.
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