New Delhi, May 12 (PTI) Co-living operators have raised USD 980 million in the past 10 years amid rising demand for managed rental accommodation, according to Colliers India.

In its latest report, real estate consultant Colliers India noted that India's co-living market is on an upward growth trajectory, with demand rebounding strongly in recent years and operators gearing up for expansion across Tier I cities and select Tier II cities.

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"India's co-living sector is entering a new phase of growth, underpinned by strong demographic fundamentals and a growing preference for flexible, community-centric living," said Badal Yagnik, Chief Executive Officer, Colliers India.

The consultant has estimated that there are around 3 lakh beds in the organized co-living market.

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"Leading co-living operators in India are actively raising capital to scale up their operations, particularly in light of the growing demand from students and young professionals," the statement said.

Colliers India showed that leading operators have collectively raised capital to the tune of USD 980 million since 2015, underscoring investor confidence and long-term growth potential.

Co-living segment raised USD 205 million and USD 220 million in 2018 and 2019, respectively. In 2021, the co-living operators raised USD 142.1 million in funds.

Institutional investors too are increasingly viewing co-living as an attractive asset class, with returns closer to 10 per cent, significantly higher than the 2-5 per cent yield of traditional residential assets, the consultant said.

"Following a temporary lull during the pandemic, the demand for co-living is regaining momentum, driven by the inherent strengths of the sector," the consultant said.

Evolving demographic patterns, education & employment-driven urban migration, rising disposable incomes, and a growing preference for fully managed rental accommodations are all contributing to a sustained rise in demand for organized co-living spaces, Colliers said.

The funding includes capital raised across various funding stages through financial instruments such as equity, debt, mezzanine debt, private placement etc.

(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)