Co-living industry contracts outside China
Co-living – a form of living where get a private bedroom with shared common areas – has unsurprisingly contracted in most countries this year.
Outside China the market has contracted by between -5% and -30%, according to the Global Coliving Report – 2020 from TheHouseMonk, a software compny based in Bengaluru, India.
The market held up in South East Asia and China however, with occupancy rates remaining high.
Globally co-living was worth $7.9bn in 2020, up from $7.5bn in 2019.
This means the industry has grown by 6%, compared to an increase of 20% the previous year.