Latest News | 65 Pc People Ready to Pay Less Than Rs 10k Per Month for Co-living Space: Survey

New Delhi, Apr 21 (PTI) The demand for co-living spaces is driven by young professionals and students, and a majority of them want rented accommodation at less than Rs 10,000 per month, according to a report.

Bengaluru-based co-living operator Colive has conducted a survey with a sample size of around 20,000 people from across major cities.

According to the survey, 65 per cent of the respondents want rented accommodations at less than Rs 10,000 per month, while 35 per cent are willing to pay more.

"Co-living spaces are ideal for people who migrate to new cities for a new job, studying for a degree, work remotely, or starting a new company. Customers of this kind of shared living space are mostly young professionals, students, entrepreneurs, freelancers, and remote workers," the report said.

As per the survey, the maximum demand (81 per cent) for the coliving space comes from young people, below the age of 27.

Nearly 70 per cent prefer regular meals from the co-living centre, while 31 per cent want to cook on their own or order.

Over 60 per cent of respondents prefer to have a single room and 39 per cent are willing to stay in shared setups.

"Co-living culture is growing at a very fast pace. The nature of the ecosystem ensures comfort, affordability, safety, and privacy. Our research report shows how this is the most preferred way of living in today's era," Colive founder and CEO Suresh Rangarajan said in a statement.

Co-living operators meet the expectations of their clients by offering fully managed service and affordable luxury that meets their style and preferences, he said.

Founded in 2016, Colive is a technology-powered rental accommodation provider of ready-to-move-in homes.

It provides branded and serviced shared living services that target families, single professionals and young couples.

With an inventory in excess of 30,000 beds, 6 million+ sq ft area, Colive is one of the leading co-living operators in India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)