These co-living concepts can help companies slash short-term staff housing costs by 50 per cent
- A wide range of companies are exploring the benefits of co-living accommodation for staff
- Shared living seen as beneficial to helping foreign workers adust to life in Hong Kong, operators say
Financial institutions, consultancy firms, universities and start-ups are looking to co-living as a flexible, short-term accommodation solution that could cut costs by as much as 50 per cent, industry players said.
“Approximately 25 companies have shown interest in our co-living solution in the last six months,” said Wang Tse, co-founder of Campfire, which offers 80 rooms in Sham Shui Po. “They are looking for short-term or flexible accommodation for interns and project staff from 18 to 28 years old.”
He said corporate clients, ranging from financial institutions to start-ups, typically seek out housing for one to five employees, although one employer wanted housing for 10 staff.
Tse said individual rooms in the company’s Sham Shui Po location rent from HK$9,000 (US$1,147) to 15,000 per month.
“We are seeing a trend of companies moving their short term accommodation requirements from serviced apartments and hotels to co-living solutions, though the key market for co-living accommodation is young professionals, entrepreneurs and the university student market,” Tse said.