Co-Living, An Introduction for Southeast Asiaby Fintechnews Singapore March 24, 2017
Southeast Asia is quickly becoming a hotspot for startups and digital nomads, thanks to the region’s low cost of living and young, digitally-enabled workforce. Singapore has over 300 co-working spaces. Vietnam has seen more than 40 spaces open since its first co-working space Start was set up in 2012.
While global chains like WeWork, have started to expand aggressively in Asia, homegrown chains, too, are also looking to increase their foothold. The Hive, for instance, recently added Singapore to its list of locations which already included Hong Kong and Bangkok. Vietnam’s Dreamplex plans to expand in Hanoi and Da Nang after launching its first site in Ho Chi Minh City.
According to Regina Lim, National Director, Advisory & Research, Capital Markets at JLL, co-working spaces could make up 10% to 15% of office spaces in Southeast Asia by 2030, compared to only 1% to 5% today.
From Co-Working to Co-Living
In Indonesia, Livit Spaces is taking the co-working concept to the next level, providing a co-working and co-living space. Since 2011, Livit Spaces has attracted people from all over the world to offer them a space where they can focus on their work and immerse themselves in a productive environment, surrounded by like-minded startup co-founders and startup team members.
Co-living is a form of housing where residents share living space and a set of interests, values, and/or intentions. It targets the millennial generation and more particularly people who value things like openness and collaboration, social networking, and the sharing economy.
The purpose of co-living is “to create a home environment that inspires and empowers its residents to be active creators and participants in the world around them,” according to Coliving.org. These environments aim to cultivate collaboration and serendipity amongst residents, and “enable sustainable lifestyles through sharing and efficient use of resources and space.”
Residents unite around a common interest to collaboratively manage a space, share resources, and coordinate activities. Many co-living houses offer short-term accommodation and host outward facing events.
Alongside Livit Spaces, there are several other co-working spaces that offer co-living accommodation in Southeast Asia.
In the Philippines, 47 East offers rooms from 8000 PHP/month (about US$160), or 750 PHP/day (US$15). Located in Manila, the co-working space offers a Skype room, lounge, free coffee/tea, reprography services, an outdoor terrace, and more. It hosts startups, freelancers, and independent professionals, and is located close to two of the largest universities in the Philippines.
Outpost, in Bali, has to be the co-working space with the best scenery in the area. Beyond its large community, excellent amenities and service are available. Outpost has two on-site pools, a balcony overlooking a river, standing desks, an excellent internet connection, ergonomic chairs, a Skype room, sound recording equipment, and more.
Private villa rooms are available starting at US$975/month and include a full-time Outpost membership (US$209/month value), maid service, and breakfast each morning.
KoHub in Koh Lanta, Thailand, is one of the most famous co-working spaces in the world, offering excellent value co-living packages. Spots in the four bed shared dorm cost around 19,750 Baht/month (US$566) with prices varying slightly by the season. Small private rooms start at 21,000-26,000 Baht/month (US$602-US$745). Larger rooms are also available at an additional price.
All co-living arrangements include a place to sleep, two meals a day, free access to beach toys, travel advice/assistance, plus the world-class facilities at the KoHub co-working space.
In Singapore, Hmlet seeks to help young professionals from all around the world relocate to the city. Established in 2014, Hmlet is a housing and lifestyle company that aims to act as a platform for people to meet and create a community of tenants. Hmlet offers rooms and full apartments for rent in the heart of Singapore.
Featured image via http://liv.it/spaces/