Small living, shared living – Is this the future of how we live?
Small living appears to be making a big splash, but the growing interest in micro apartments and co-living is not just a matter of taste – broader structural forces are changing the way we live. Delayed marriages, growing divorce rates and increased longevity are contributing to the rise of single-person households, leading to a reduction in the living space that home dwellers require. Urbanization has also led to the emergence of a transient population seeking job opportunities in metropolitan areas. Not only are they more likely to live in smaller spaces given their mobile nature, the constraints of physical land would also mean that the living space per person of more crowded cities will be smaller. Throw in the coming of age of a demographic group we call "millennials", and co-living is born. But are things so simplistic, and will these trends endure? In this paper, we examine how these trends are taking shape in Asia Pacific and what the implications are for investors.