In anticipation of greater demand from millennials for affordable community-focused flexible accommodation, ASAP Member Ascott is planning another seven properties over the next three years under its co-living lyf brand.
This will include two more in Singapore, making three there, as well as one each in Bangkok, Kuala Lumpur, Cebu, Fukuoka and Shanghai, aiming for lyf to account for around 10% of the company’s overall portfolio.
In Singapore, companies including Hmlet and Cove offer monthly rentals with outsiders such as Hong Kong’s Dash Living also entering by acquiring Easycity.
A typical lyf property will have at least 100 en-suite rooms, with Lyf Funan, which opened in September, offering 412 rooms across 279 apartments.
lyf offers stays as short as a single night, with rates at lyf Funan starting from 150 Singapore dollars ($111.3) a night, or S$3,060 a month.