Co-living: is it the future of housing?
The new housing modality that is gaining ground in the Spanish market and its regulation in the different regions of the country.
The opinion of Juan Antonio Pérez Rivarés, real estate and urban planning partner at Uría Menéndez Abogados; José Méndez, founding partner of Méndez Lit; Belén Simbor, founder of Simbor Legal; and Xavier Serramalera, counsel at RocaJunyent.
by mercedes galán
Co-living, a way of life that is not traditionally new in Spain, has undergone a significant change in recent years. Now, the professionalisation and institutionalisation of this sub-sector within the residential sphere has given rise to a growing offer of buildings designed specifically for shared rental, with a focus on creating attractive communal spaces. In the opinion of Juan Antonio Pérez Rivarés, real estate and urban planning partner at Uría Menéndez Abogados, “co-living obeys the sign of the times, given that it focuses on the idea of living in community: it offers shared spaces and large common areas, while promoting experiences that generate a sense of community; it seeks to balance privacy with shared living, in line with current social evolution”.
Another perspective is that of José Méndez, founding partner of Méndez Lit, who points out that this alternative “arises as a response to the shortage and need for affordable housing”. Although some see it as an investment opportunity, Méndez considers that its transitory and temporary nature differentiates it from a stable residential alternative intended by those who buy or rent a home. “It is likely to be limited to specific sectors of the population and have a high turnover,” he notes.
Differences with co-housing
According to sector experts such as Belén Simbor, founder of Simbor Legal, the advantages of this modality are clear, “in addition to satisfying a hitherto unsatisfied demand, especially among students, digital nomads and young workers, co-living revitalises urban spaces and fosters a sense of community among tenants”, she explains. Likewise, from the investor’s perspective, as Pérez Rivarés notes, it offers high profitability margins due to the profile of its users, who tend to have stable careers and a high level of income. In addition, “the flexibility offered by this product allows for different business models, which enables the investment to be modulated according to the target audience,” he explains.
Another approach is that of José Méndez, who considers that, compared to traditional housing, it does not offer significant advantages in terms of ownership or long-term rental. However, “it can be a useful option for young people who are looking to become independent, but face difficulties in doing so in a conventional way”.
Differences with co-housing
