“Source:- Economic Times”
Co-living market size across India’s top 30 cities is expected to grow more than double by 2025 to $13.92 billion from current $ 6.67 billion. The demand for co-living in terms of beds is slated to grow to 5.7 million from 4.19 million, while the share of private beds is likely to rise from 15% to 30% of total demand in the co-living segment, showed a Cushman & Wakefield India report.
The co-living market in India is evolving at a rapid pace, with investments from national and international institutional investors bringing in much-needed seed capital as well as future rounds of funding thereby allowing a new business model to thrive and aim towards achieving scale.
“Co-living is an evolving sector and is expected to grow more than 2X by 2025 in the top 30 cities which are the major economic centres in the country…Furthermore, as the business evolves, co-living shall transform the face of the rental housing market in urban centres market in urban centres, similar to what we are witnessing with flex-working in the office rental space,” said Anshul Jain, Country Head & Managing Director-India, Cushman and Wakefield.
The operators of such facilities are tying up with developers for built-to-suit property options – an upcoming trend likely to prevail in the sector. Operators opting for ready to move in properties, which are refurbished and renovated as per their requirements, are showing preference for properties having at least 50-60 rooms.