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lyf co-living property in Kuala Lumpur opening soon.

lyf

lyf co-living property in Kuala Lumpur opening soon.

Wikipedia says this about co-living. “Co-living is a residential community living model that accommodates three or more biologically unrelated people living in the same dwelling unit. Generally coliving is a type of intentional community that provides shared housing for people with similar values or intentions.”

Briefly, many people with the same interest will share same living space, probably one whole building but each would have their own room where they could sleep. This does help to keep the cost of owning a property lower but everyone still gets to enjoy lots of community space. Is this becoming popular? I believe it will have to also depend on how quickly prices become ‘too expensive’ and co-living as a concept becomes even more attractive beyond just the concept but also the price push factor.

Article in nst.com.my CapitaLand’s wholly-owned lodging business company, The Ascott Ltd (Ascott), is set to open its first lyf-branded co-living property in Kuala Lumpur. This is a 12-storey property with 104 units and is located along Jalan Raja Chulan.

lyf (pronounced life) is a hospitality concept that creates dynamic co-living spaces for digital nomads, technopreneurs, creatives, and self-starters.

According to a statement, Ascott will also open a lyf-branded property in Bangkok, Cebu, Melbourne, Shanghai, and Xi’an this year.

With the six new additions, Ascott will have 18 lyf properties with over 3,300 units in 14 cities across nine countries.

Please do read here for more information. Article in nst.com.my

I am not yet a fan, probably I am not the target group as well

I love co-working offices. There are so many nice ones all over Kuala Lumpur. In fact I am open to having a space in a co-working office if I am a budding entrepreneur. However, if you ask me about co-living spaces, I am not that open to sleep in a place full of people whom I do not know. I know, I am also not their target because if all these younger people sees that co-living space full of older generation people, I do not think it will look attractive to them anymore.

The younger ones prefer their own co-living space with their generation. The same thoughts, the same language, the same goals, the same interests. Somehow even the song I play will be quite alien to them. Yea, this is why these co-living space must be targeted at the right group and it should be able to do well enough to continue. Sometimes, it’s also how long before it becomes a strong trend. Happy owning one if you are a fan.

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Header image from nst.com.my (source)

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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