Co-Living is Providing New Living Spaces
The advantage of coexistence is that it provides versatility and increased protection compared to a typical share house for tenants. Co-living locations typically provide communal living spaces for a self-contained micro-apartment or studio-style room. The hope is that these locations provide enough space and amenity for a person to spend plenty of time comfortably in their self-contained room while providing the amenities they would enjoy in a regular home such as a full-sized bathroom, living spaces, and the ability to be social with their co-workers.
The space for cohabitation created by UKO costs $525 per week. Whilst it may appear costly for Sydney residents who value privacy but who are willing to live close to the CBD, it's a trendy offer. Like other living areas in Australia and around the world, UKO offers self-contained studios of approximately 27 square metres.
They have a kitchenette, a bathroom, and furnishings that can be adjusted–everything you need to create at home. The washing facilities are shared, there is a common dining and living areas and linen is changed every two weeks. The weekly rate includes internet, shared vehicle access and the opportunity to participate in social events organised by the host community.
In his venture Mastery by Crown in Waterloo, the Architect Crown Group is also improving the trend with its low-bay buildings to be designed for co-existence. The building features small studios and community living rooms and laundry facilities. It gives people a blend of confidentiality and social access.
With more livelihoods in Australia, it will be important to see whether this changes the rental aspect for many Australians. Everybody doesn't think that, but many people see rent money as dead money. Nevertheless, the level of comfort provided to their tenants by certain living areas that contribute to a change which is not chartered in such a negative way. While Australia is still a niche market, it is shown that people are open to new ways of living, in particular because it becomes harder to penetrate the property market in Australia.
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