JLL has released a report, “Co-living in Singapore”, describing the alternative to traditional residential leasing as providing opportunities for social interaction in a communal living arrangement.
It notes that the bulk of the demand for co-living comes from expatriate tenants, although there is growing interest from local millennials seeking greater independence. There are at least eight co-living operators in Singapore currently, including Singapore-based start-up Hmlet, and JLL includes ASAP Member Ascott’s lyf brand.
In Singapore, regulations require a minimum three-month stay, unless serviced apartment use is already available where there’s a seven-day minimum stay or a hotel licence offering daily rentals.
Hmlet’s largest facility offers 150 individual rooms across two 3-storey blocks, while lyf Funan Singapore, which opened in September 2019, comprises 412 rooms across 279 apartments, with two more lyf properties planned for the country catering to residents who are expected to stay for between two weeks and one year.