Alfareal is a real estate investment platform committed to transforming real estate to improve the quality of life in cities and generate a positive impact on the communities where we operate.
On this occasion, we want to talk to you about Coliving, one of Alfareal’s areas of operation. Have you ever heard of Coliving and wondered what it is all about? This blog will explain everything you need to know about this innovative living and how Alfareal transforms old and inefficient real estate into modern and comfortable spaces to make Coliving a unique experience.
What is Coliving?
Coliving is an innovative form of renting that offers tenants the comfort of a fully equipped and furnished private home or space and access to fantastic common areas such as a lounge, coworking space, gym, pool, laundry, or even a metaverse experience room.
This model provides more amenities than they could typically afford and options to socialize with other colivers.
The meaning of coliving is an innovative and sustainable housing option that provides the opportunity to live in a private space while enjoying a collaborative and connected community by blending the concepts of a hotel and traditional renting.
Why is Coliving such an attractive market?
Coliving has become a desirable investment niche due to its growing global popularity and market potential. According to market research data, the global Coliving market is worth $8 billion and serves over 3 million people worldwide. The market is expected to grow at a rate of 30% annually in the coming years.
In Spain, Coliving is a relatively new concept with excellent growth potential. Currently, less than 3,000 units are available in the Spanish market – almost all of them in Madrid and Barcelona, with the majority aimed at students and young professionals. This makes Coliving an incredibly attractive growth area for real estate market participants like us at Alfareal.
What are the advantages of Coliving?
Coliving offers several advantages for its residents:
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1. Community:
Coliving allows for connections to be made and a community to be created with other people who share similar interests and values, which can be very beneficial for the well-being and quality of life of residents.
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2. Comfort:
Living in a Coliving space can be very comfortable, as services and amenities such as cleaning and maintenance are included in the price and allow residents to focus on other activities and tasks. This can be especially attractive for people struggling with time or who prefer to delegate these tasks to specialized professionals.
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3. Flexibility:
Coliving offers flexible rental options and adapts to the needs and circumstances of each resident, which can be very useful for people looking for housing options that are more tailored to their lifestyle or personal situation. The minimum stay is generally two months, and the average stay is 6-9 months.
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4. Affordability:
Coliving offers an affordable option compared to other forms of accommodation, as expenses and common areas are shared. For a monthly cost similar to traditional rent, the coliver has access to a much more comprehensive range of services and the flexibility to leave the contract whenever they want. Services such as cleaning, supplies, and maintenance are included in many cases.
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5. Location:
Most Coliving spaces are located in central areas of cities, allowing for easy access to places of interest and avoiding long commutes. This is attractive for young and professional adults looking to settle in a new town or improve their quality of life in a more convenient area.
What audiences does coliving attract?
Young professionals (aged 25-40) with above-average incomes seek to establish themselves in new cities or simply live and socialize differently. These tenants seek amenities they may only sometimes be able to afford, such as fully equipped and furnished spaces and high-quality common areas.
This way of life is also popular among those seeking a more sustainable and collaborative lifestyle, where the community is a significant value.
At Alfareal, we are committed to offering this audience a high-quality lifestyle and helping them build community in our Coliving spaces.
What are the most cutting-edge cities in Coliving?
Coliving is a growing trend in Spain, and more cities are home to Coliving projects and communities. Madrid, Barcelona, Valencia, and Santander are some of the most cutting-edge cities in the Coliving market in Spain. Seville, Bilbao, and Palma de Mallorca are gaining ground. We can safely say this collaborative and sustainable way of life is here to stay.
Wrapping Up on Coliving
We are Alfareal, a real estate investment platform focusing on the Coliving market in southern Europe, where the real estate market represents a total value of over €700 billion.
Our emphasis on Smart Living, with fully independent apartments and beautiful and functional common areas, has led to the creation of smart and sustainable spaces. With its Trees Coliving brand, Alfareal not only uses natural materials and plants to create a welcoming environment but also reduces its dependence on the electrical grid by installing solar panels for much better energy efficiency.
Our team at Alfareal is committed to creating an innovative and sustainable lifestyle for young professionals.
