Rising rentals a double-edged sword for co-living operators

BALLOONING residential rentals have led to a surge of interest in co-living properties, say Singapore operators, with tenants reassessing their budgets as asking rents escalate.

Co-living operators have seen occupancy rates remain high at between 95 and 97 per cent, as occupancy rates also improve by 10 per cent or more.

But it is not all rosy, as co-living operators themselves face higher rentals on the spaces they lease from landlords. Business models are starting to shift while the sector goes through a period of consolidation.