Leaders
Co-Living: A modern solution to Australia’s housing crunch
Yannick Ieko highlights co-living as an evolved, secure housing solution for mature renters in Australia’s tight market
– Co-living is an upgraded rooming house offering safe, shared accommodation for mature tenants needing housing.
– Properties accommodate up to nine households and feature hotel-like suites alongside shared living spaces.
Co-living is emerging as a smart, modern alternative to traditional housing, offering safe and high-quality shared living spaces.
Unlike student accommodations focused on socializing or parties, this model is designed for mature individuals navigating Australia’s tight housing market and seeking affordable, comfortable homes.
A typical co-living property accommodates up to nine households while retaining the exterior of a standard home. Interiors are thoughtfully designed to balance privacy and community living, featuring five to nine hotel-quality suites, each with a spacious bedroom, en-suite bathroom, and kitchenette. Common areas include a main kitchen, living room, and outdoor space, creating a welcoming environment for residents to connect.
High demand
According to Yannick Ieko from Harmony Group, co-living offers cost-effective housing solutions for tenants, with room prices averaging around $200,000 in desirable locations. Investors also benefit, as properties in prime areas tend to appreciate over time. Multiple households renting simultaneously generate strong cash flow, while the model’s low vacancy risk makes it a relatively safe investment. High demand and limited supply further enhance its appeal to property buyers.
Regulatory requirements classify co-living houses as 1B residential dwellings, ensuring safety standards are met while streamlining construction and approval processes. One of the main challenges for expanding co-living is the limited availability of specialized funding from lenders.
For more information, visit harmonygroup.com.au.
