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The Giants of Coliving enter Spain

International operators such as Urban Campus, StarCity, Habyt or Dovevivo have already entered the national market and have very aggressive expansion plans for southern Europe.

The Spanish opportunity.

In Madrid, Urban Campus  has 120 beds; Habyt 110 and Homii 180. In Barcelona there is almost a thousand, with The Student Hotel being the most active operator with 595 operational beds and another 3,000 on the way – they also plan on opening in Madrid, with 340 beds, and 328 projected in Sebastián–. You’ll also find in Barcelona Starcity, with 100 beds, and Inedit, with 113. Among future developments, Homii plans to expand its portfolio in Madrid, Barcelona, ​​Valencia, Seville, and Malaga. DoveVivo also plans to open in the capital city and in the city of Turia.

‘Coliving’, the networking residence

One of the markets that seems to go from strength to strength during the current economic and social uncertainty is home rental, and with it, coliving. This phenomenon was born in Silicon Valley after young people faced increasing difficulty finding affordable housing at the beginning of their careers. It is defined as a community and networking space, but also one that is residential. A kind of residence for students (but without an age limit) aimed at young professionals and freelancers, offering more sophisticated common areas such as spas, gyms, swimming pools and coworkings.

“Coliving means a different way of life. A life that’s more flexible, as all services are included in the rate, with an active community. A building where all the tenants are at the same point in life and where they can share experiences ”, explains Javier Caro, director of Coliving at CBRE.

Just as coworking implies better efficiency in using office spaces in densified city centers, coliving also allows better efficient occupancy by prioritizing high residential standards, at affordable prices. Prices usually include WiFi, utility bills, furniture, cleaning services and access to gyms. “In real estate terms, it is an operating asset that combines community management of a student residence, the services of a hotel and the stability of a residential asset, as a result of affordable rents, services on demand and high occupancies ”. In Spain coliving is receiving great recognition in the build to rent sector, largely due to the fact that less than 5% of the total market offer is under professional management “and there is a lack of this kind of experience within the accommodation sector ”, adds the CBRE executive.

International operators such as Urban Campus, StarCity, Habyt or Dovevivo have already entered the national market and have very aggressive expansion plans in southern Europe.

In the specific case of Spain, for the moment it is not a regulated market (we will see if the current Government is capable of restraining itself, with regards to coliving, in its Housing Law, defined with pride as the most interventionist on renting, in Europe). For now colivings can be operated as a residential or hotel asset. The types of rooms will depend on the demand, whether it is aimed at travellers, students (usually postgraduate), or young corporate professionals. As there is no current regulation, the rental agreements can range from 1 to 11 months (while the Urban Leasing Law establishes that the tenant can be linked to the house for 5 to 7 years).

As for prices, currently on average in Madrid rooms in colivings cost around 1,100 euros per month, more or less in line with the rental of a private studio of about 30 square meters, according to CBRE estimates. This makes Madrid one of the most expensive rental capitals in Europe. As some examples: in Amsterdam, a 30-square-meter studio costs less than 1,000 euros per month; in Vienna under 800 euros and in Berlin, 750 euros. In Milan coliving is not yet regulated either and average prices range from 410 euros per month for a basic room, to 1,000 for a bigger room. In Berlin, coliving rents vary from 599 euros in a shared apartment to 1,100 in a studio, with Germany being the most mature market for investing in micro-apartments (1.9 billion euros since 2015, according to CBRE).

Read the full article The Giants of Coliving enter Spain in Spanish

Mellado Madrid Coliving, featured in “Toc toc, se puede” TeleMadrid

A new TeleMadrid TV show that focuses on different housing alternatives came to visit our Mellado Madrid Coliving, to discover how coliving works.

Óscar, one of our residents, guided them through the coliving building, showing them his studio and all common areas.

 

‘Coliving’, a new way of living in Madrid

A private room, a ready-built community & dozens of shared spaces? At first it might seem like what you get with a hotel, but it is far from that. Here the people who rent their little corner of privacy are part of a community or ‘family’ who share common areas and even fridges. It’s called ‘coliving’, and it’s not just a new way of living, but a whole philosophy of life.

Óscar and his girlfriend Lidia met at the Mellado Madrid Coliving, after both deciding to try out this new lifestyle, and they now share a larger studio together.

The ‘coliving’ is a new housing rental offer that strongly appeals to young professionals aged 26 and older, who do not mind sharing a kitchen and television with other tenants. They have their own private place in the form of a studio with an en-suite bathroom, and the rest of the building holds different common areas that encourages everyone to coexist harmoniously. Organization, respect and tolerance are necessary. 

Speaking to TeleMadrid, Ósacar explains that “We’ve not really had problems when it comes to watching TV. There are many common spaces available and it is just a matter of organizing amongst ourselves and reaching an agreement”. To avoid conflicts in the kitchen, which is shared between four studios, each drawer and shelf is assigned to a tenant. “If someone likes coffee and brings a coffee machine, it is shared with whoever needs it, if the owner agrees of course.” Continues Óscar. Although cleaning is included in the rent, next to the dining room table we find a large blackboard displaying different tasks and those assigned to each one (water the plants, cleaning the common spaces etc.). 

A ‘new age’ community

Óscar is from Barcelona, but had been living outside of Spain. When he arrived in Madrid he wanted to try this new lifestyle and described his first sentiments as those of surprise.

The ‘coliving‘ provides accommodation with a private bathroom. The rest of the house is shared. It costs between 750 and 1,200 euros per month, including utilities, wifi, maintenance, cleaning and a fully equipped kitchen. Residents all have access to a gym, fitness studio, a movies room and three terraces, one of which has an urban garden, with the main common space offering a large table where the whole community can come together. The building is located in Chamberí and has 74 studios in total, some of them doubles. “This is a way of life. If you want to interact with others, you can, but if you don’t, just don’t go to the common areas as often.” So far though, it seems that everyone has hit it off very well. “Every two weeks we hold a community meeting to talk about any issues we’re having, and follow it up with a delicious community dinner “.

Advantages and disadvantages of ‘coliving’

Advantages of ‘coliving’

  • Everything is included in the rent (utilities, cleaning, maintenance, Wifi & even Netflix)
  • You just need to bring your clothes, the rest is provided by Urban Campus.
  • Complete cleaning in common areas every week and in private areas every month.
  • Opportunity to meet new people.
  • The gym is included in the price.

Disadvantages of ‘coliving’

  • Loss of some privacy by sharing so many common areas.
  • Possibility of disputes derived from living with so many people.

The building has about 300 square meters of common areas. The tenants are between 26 and 40 years old and are professionals. The ‘coliving’  does not admit students. Residents can bring guests but they cannot stay more than seven nights in a row.