Living arrangements: Is shared living a worthwhile investment?
In modern-day France, a fresh wave of luxury dwellings is sweeping through the housing landscape: coliving apartments (CHECK OUT THIS VIDEO ABOVE). For a cool 1,150 euros per month, youthful professionals share living spaces with a dozen others. The arrangement includes perks like cleaning, laundry, gym access, and a swanky terrace. The rising popularity of coliving -- with a whopping 14,500 beds recorded in 2023, representing a substantial 70% increase in just two years -- is undeniable.
Not everyone's wallets can stretch that far. With costs coming in around 20% pricier than traditional shared housing, it's the well-heeled foreign students who are taking advantage, leaving some French youngsters in the lurch. Ian Brossat, a senator from the Communist Party, wishes to implement tighter regulations, establishing a clear-cut legal framework to govern this phenomenon.
Many are diving headfirst into the market, investors like Vincent Fourcaut among them. On that particular day, he dared to step foot inside a 300m2 property in Yvelines. It'd set investors back a cool 400,000 euros to renovate this gem, transforming it into a cozy haven for around 15 residents. With a cautious offer price of 650 euros per month for the inaugural tenants, investors like Fourcaut expect costs to climb with demand once the place fills up. "We start with a lower price to reel in newcomers," he explains, "then we jack the prices up as the place fills."
But is the high cost of living in a coliving apartment worth it? Only time will tell, as the future of this trending housing solution continues to unfold, potentially driving additional legislation aimed at ensuring an affordable living situation for all.
- Some individuals might be interested in investing in real-estate, seeing the potential of coliving apartments as a lucrative opportunity, like Vincent Fourcaut who bought a 300m2 property in Yvelines for 400,000 euros, aiming to transform it into a cozy coliving space.
- While the lifestyle of coliving apartments, with their luxurious perks, appeals to many, the high costs may deter some, and there are concerns about affordability, particularly amongst French youth, leading to calls for tighter regulations.
- As the trend of coliving continues to grow, with a significant 70% increase in just two years, the debate around home-and-garden investments, specifically in coliving properties, and their financial impact on lifestyle choices becomes increasingly relevant.
