The Future of Property

It may have started as a niche real estate trend, but now co-living – where people reside together and share communal spaces – is here to stay

- Shannon Manuel

CO-LIVING IS A NEW KIND of housing where residents with shared interests, intentions, and values share a living space where they’re almost like a big family. It’s built on the concept of openness and collaboration, with the residents often sharing similar philosophical values. Residents will usually have their own bedroom and bathroom but will share common areas like cooking and living spaces. While you might be imagining a hostel, dorm or hippie commune, this version of communal living is designed with young professionals in mind. The rise of co-living comes from many factors, including engaging amenities and the enjoyment of living with others who share similar interests. Other benefits include a reduced financial burden, community support, group activities and a sense of belonging. Globally, co-living appeals mostly to digital nomads who want to be able to travel and don’t want to worry about a mortgage. And in South Africa, it’s gaining momentum.We spoke to Caspar Lee, co-founder of Property Living and Murray Clark, founder of Neighbourgood, to gain insight into co-living spaces.

NEIGHBOURGO OD IS A NEXT-GENERATION property developer and manager that focusses on modern living. ‘We’re inspired by the value of the shared economy and purpose-built real estate and we’re driven to create accessible community centric spaces for the modern-day consumer,’ says Murray. At Neighbourgood, friendliness is valued over anonymity.

GQ: What’s driving this co-living and communal housing movement?