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|Title:||A NEW PLAYER IN THE MARKET: HOW CO-LIVING ENTRANTS ARE IMPACTING THE REAL ESTATE RENTAL ECOSYSTEM IN SINGAPORE||Authors:||ONG SUFEI SAPPHIRE||Issue Date:||20-Apr-2022||Citation:||ONG SUFEI SAPPHIRE (2022-04-20). A NEW PLAYER IN THE MARKET: HOW CO-LIVING ENTRANTS ARE IMPACTING THE REAL ESTATE RENTAL ECOSYSTEM IN SINGAPORE. ScholarBank@NUS Repository.||Abstract:||This paper examines the niche but growing sector of the co-living industry, a sub-section of the larger sharing economy. Co-living operators are aligning themselves to the rapidly changing tastes and preferences away from Baby Boomers and toward the needs of the Millenials. A population that demands greater convenience, accessibility and affordability, co-living operators are offering beyond typical rental amenities and services. But what were reasons why tenants are choosing co-living? With more co-living operators in the region, does this have an effect on the neighbouring real estate rental performance? The oldest co-living entities in Singapore only date back to 2016, with Hmlet paving the way for similar and like-minded players. With barely more than half a decade’s worth of traction, in- depth study into the co-living industry in Singapore has been limited. Hence, the aim of this research is to provide the reader with a deeper understanding of the industry and to provide room for further provocation of thought on the future of Singapore’s rental behaviours. This report will take on three main components, namely the contextualisation of the millenials’s needs and the sharing economy using past literature, analysis of tenant considerations using field survey conducted on 52 tenants and drawing of potential correlations or impacts that the presence of co-living has on neighbouring real estate rental performance. This paper concludes with an objective prediction on the future of co- living spaces in Singapore, and provides recommendations for future resarch and potential players looking to invest into this space.||URI:||https://scholarbank.nus.edu.sg/handle/10635/224334|
|Appears in Collections:||Bachelor's Theses|
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