{"id":5093,"date":"2023-11-13T10:00:00","date_gmt":"2023-11-13T09:00:00","guid":{"rendered":"https:\/\/thecitylifer.com\/blog\/?p=5093"},"modified":"2023-11-11T13:45:39","modified_gmt":"2023-11-11T12:45:39","slug":"differences-between-coliving-and-student-accommodation","status":"publish","type":"post","link":"https:\/\/thecitylifer.com\/blog\/coliving\/differences-between-coliving-and-student-accommodation\/","title":{"rendered":"The Differences Between Coliving And Student Accommodation"},"content":{"rendered":"\t\t
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Are you in the pursuit of a higher education or perhaps a student seeking a new place? Or are you considering coliving arrangements and wondering how they differ from student housing? If so, it’s vital to understand the distinctions between these two.<\/span><\/p>

In this topic, we\u2019ll explore the drawbacks and benefits of coliving and student housing to help you make an informed decision that aligns perfectly with your preferences and lifestyle. Whether you’re a social butterfly seeking a vibrant environment or a homebody looking for a quieter and more personal space, we’ve got you covered. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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What is Student Accommodation?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Student accommodation is a form of housing built solely to provide dwellings to students. It spans from university-managed houses to university halls of residence and private halls or Purpose-Built Student Accommodation (PBSAs).<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The Traditional Purpose and Rise of Student Accommodation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In addition to its primary purpose of housing students, student accommodations offer a convenient, safe, and community-focused student living environment. These benefits, combined with the reopening of colleges after the COVID-19 recovery, have brought positive growth to the real estate and accommodation market. <\/span>Europe’s student housing market<\/span><\/a> is valued at around \u20ac23 billion and is expected to produce a compound annual growth rate greater than 5% from 2023 to 2028.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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What is Coliving?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving is a modern concept of living and shared housing, where residents can opt for their own private bedrooms or apartments, and share communal areas such as the lounge, bathroom, and kitchen. These shared spaces are designed to promote social interaction among residents, promoting a sense of belonging and mutual support. In addition to fostering a sense of community and collaboration, it also benefits residents with affordability and convenience, serving as the solution to today\u2019s evolving housing needs. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Coliving Growth Trend<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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As a result of the market\u2019s inclination towards more affordable housing options, coliving has emerged and<\/span> increased by an average of almost 40%<\/span><\/a> between 2015 and 2021. And in 2022, the coliving sector received<\/span> \u20ac963 million of investment<\/span><\/a>, which is more than half of the total investment received in the preceding six years. <\/span>51% of European investors plan to be active in the sector,<\/span><\/a> making it the joint third most invested-in living asset class.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\u201cWe are now witnessing an increasing trend of the UK\u2019s regional markets embracing coliving\u201d\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Today, this modern housing concept continues to gain remarkable growth and significant interest from investors, operators, and dwellers, consisting of professionals,<\/span> digital nomads<\/a>, and students.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Key Differences of Coliving and Student Accommodation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving<\/strong>: Targeted towards young professionals, remote workers, digital nomads and students<\/p>

Student accommodation<\/strong>: Primarily for college and university students<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Coliving<\/strong>: Flexibility in short-term and long-term stays<\/p>

Student accommodation<\/strong>: Typically fixed terms, often aligned with academic years<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Coliving<\/strong>: Emphasis on communal areas, shared resources, sometimes including co-working spaces<\/p>

Student accommodation<\/strong>: More focus on individual needs, aligned with student life (e.g. study rooms, proximities to universities)<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Coliving<\/strong>: Rental fee can included bundled services like WiFi, utilities and cleaning<\/p>

Student accommodation<\/strong>: Typically excludes additional services and amenities such as community events and cleaning<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Coliving<\/strong>: Emphasis on community building, networking and shared experiences<\/p>

Student accommodation<\/strong>: More focus on academic life, but can also foster strong social bonds<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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Coliving<\/strong>: Often designed to be modern, sustainable, and fosters interaction<\/p>

Student accommodation<\/strong>: More functional designs, aimed at supporting student routines<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Target Audience<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving is targeted towards young working professionals, whether single or married, remote workers, digital nomads, and students, while student accommodations are primarily built for college and university students.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Duration of Stay<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving offers flexibility in short-term and long-term stays. The duration of stay typically starts from one month and can continue for multiple years, depending on the need and agreement of the resident and the space owner. On the other hand, traditional student housing is typically offered in fixed terms, often aligning with the academic terms or as long as the student is enrolled<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Amenities and Services<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving emphasizes more on<\/span> communal areas<\/span><\/a> such as shared living areas and resources, which include gyms, co-working spaces, laundry facilities, and kitchens. Some also offer additional services like maintenance, housekeeping, and organized social activities. However, student housing focuses more on services aligned with student life, such as quiet study areas and closer proximity to campuses.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Pricing Models<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving<\/span><\/a> offers a package of rental prices and amenities in just one bill. This includes services like Wi-Fi, utilities, maintenance, house insurance, and a fully furnished unit. Student housing, on the other hand, varies significantly. Although most shared student housing options offer all-inclusive services, some still charge additionally for services and amenities such as community events, cleaning, and <\/span>other utility bills<\/span><\/a>.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Social and Community Aspect<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving emphasizes community building among its residents and others seeking a communal living experience. It also encourages networking by organizing events, such as workshops and communal meals, where residents can connect and build relationships. Student housing also does foster strong bonds, but focuses on students from various educational backgrounds, promoting both academic and social interaction. Living in a shared space also gives the students the privilege to easily form study groups and share academic resources.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Design and Infrastructure<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving spaces are often designed with open floor plans and installed with modular furniture and modern appliances throughout the kitchen, living rooms, and dining areas. It aims to provide<\/span> functional shared spaces<\/span><\/a> to promote social interaction while maximizing the number of private bedroom or apartments for the residents.<\/span><\/p>

Meanwhile, student accommodations are designed with a purpose and the intention of taking into account the academic routines of students. Bedrooms often include study areas with desks and chairs to support studying and coursework. Some even have facilities, such as study rooms, tutoring centers, and computer labs.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Key Similarities of Coliving and Student Accommodation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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As a response to changing lifestyles, evolving needs, and preferences of today’s residents, certain lines between coliving and student housing have started to overlap in modern scenarios.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Tenant base, hybrid development, and lease term <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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These three are interrelated because as more coliving spaces’ operators start to include students in their target audience, their coliving spaces are now hybrid-designed to cater to both the needs of students and young professionals. Providers are also now offering more flexible lease terms, allowing students to rent every month or sign longer leases.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Amenities, community-centric, and technology integration<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Some newly-raised student accommodations now offer services that resemble those found in coliving spaces, such as co-working spaces, communal kitchens, lounge areas, gyms, and sometimes recreational facilities. Both housing options organize social events to open networking opportunities and foster a sense of camaraderie among residents looking for a more embracing living experience.\u00a0<\/span><\/p>

Technology integration is also becoming a common feature in coliving and student housing. Both living arrangements can now be seen utilizing high-speed internet, <\/span>lease management apps<\/span><\/a>, smart locks, and even online platforms for residents.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Cost options<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Both coliving and student housing typically offer furnished rooms or apartments, to make it easier for residents to move in. Both provide a range of apartment configurations, like shared apartments, studio apartments, or their own private room in combination with shared living spaces. These flexible options cater to various preferences, fit for a sociable person looking for a communal atmosphere or a more private person seeking an independent living arrangement.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\u201cThese overlapping features of coliving space and student accommodation is a mark of the efforts to address the market demand for convenience, community, and affordability.\u201d\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The Pros and Cons<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Pros of Coliving Spaces<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Networking opportunities<\/b><\/p>

Coliving spaces are naturally designed to foster community and social interaction. Given this, networking opportunity is already an inherent and notable advantage, especially for individuals who value making new connections.\u00a0\u00a0<\/span><\/p>

Flexible lease terms<\/b><\/p>

Young people, being more susceptible to change and<\/span> making choices based on the opportunities and resources<\/span><\/a> available, find the lease term flexibility of coliving ideal for them. This attractive option allows them the freedom to choose long-term or short-term stays, depending on their current needs.<\/span><\/p>

Convenience<\/b><\/p>

Many coliving spaces come fully furnished, making moving in easy without the hassle of purchasing or moving furniture. Some even develop their properties with durable and high-quality materials and fitted with<\/span> smart furniture<\/span><\/a>.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Cons of Coliving Spaces<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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People come and go<\/b><\/p>

Considering that coliving often attracts individuals in a transitory state, or those with varied plans, it can sometimes be challenging to build long-term relationships with your housemates.<\/span><\/p>

More expensive\u00a0<\/b><\/p>

Coliving spaces can be relatively costly, especially those in high-end or premium locations. Another contributing factor is the inclusion of cleaning services, high speed internet, furnished private room, and dedicated workspaces. As they say, convenience always comes with a price.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Pros of Student Accommodation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Student-Focused<\/b><\/p>

Student accommodations often feature study rooms or designated study areas to provide a conducive environment for academic work. This intentional design approach ensures that students have the necessities and resources they need to excel in their studies.<\/span><\/p>

Academic proximity and support<\/b><\/p>

Students<\/span> highly value their time and money<\/span><\/a>. This is why students relocate to student housing and reside near educational institutions. Some student housing also offers academic support services like tutoring and study spaces, aiming to help students succeed academically.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Cons of Student Accommodation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Fixed terms<\/b><\/p>

Student accommodations lease contracts often operate in sync with the academic year, which may not be as flexible as some occupants would prefer. Leaving ahead of the agreed date may involve some <\/span>tedious process<\/span><\/a> and may require you to pay the rent until the fixed term ends, even after moving out.\u00a0<\/span><\/p>

Potential for outdated facilities<\/b><\/p>

After asking a group of students to evaluate their student housing and their views on the housing market of their cities, the overall results concluded with an <\/span>average rating<\/span><\/a>. Some even mentioned their hopes for renovations as their rooms tend to be outdated yet expensive.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Rooftop \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Which is Right for You? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Coliving might be for you if you value:<\/span><\/p>