“People are looking for bigger spaces now, which is reflected in the offtake of the BHKs (bedroom-hall-kitchen units), especially one BHKs, which has gone up significantly and is the reason we are also acquiring a lot of one BHK properties. People prefer a living room, their own bedroom, balcony and a full-fledged kitchen,” said Deepak Anand, CEO, Housr.
The company, which operates around 5,000 beds across the country, said the share of one BHK units is about 30% but is expected to reach 50% in the next eight to 10 months.
“Our residents are increasingly seeking larger living spaces, such as single occupancy rooms or one-BHK apartments, to enhance their comfort and privacy,” said Rohit Reddy, CEO, Truliv. “However, they still require community engagement and interactions in the common spaces. We have also seen instances where we get requests for shared rooms to be converted to private rooms for private use by our residents.”
According to recent reports, the demand for private living arrangements within the co-living sector has surged 30% over the past year. Truliv has seen a 25% increase in bookings for single occupancy and one-BHK units. This resulted in the supply of private accommodations becoming almost double that of what it was in 2020. “While common amenities are shared, one-BHK units offer more privacy and comfort. This trend is expected to grow,” said Sunny Garg, co-founder, Crib. “In fact, many co-living operators now focus exclusively on properties that offer single occupancy rooms or one-BHK units. This shift reflects a broader change in lifestyle preferences, as more individuals seek the convenience and comfort of private spaces combined with the social and community aspects of co-living.”
Operators said that the demand is a clear indicator that convenience has started to outweigh price in an extremely price-sensitive industry, which augurs well for the industry as it will drive quality supply.
“In metro cities like Bengaluru, Gurgaon, Hyderabad, and Chennai, the demand for fully furnished and managed rooms with attached kitchens is significantly high, and these options get occupied much faster than others,” said Abhishek Tripathi, co-founder, Settl. a co-living operator.
The demand and supply in the co-living segment are increasing significantly across the country. Many traditional property owners, previously operating hostels and lodges, are now upgrading their amenities and designs, converting properties into modern co-living spaces.
A large number of occupants, including students as well as professionals, prefer living in co-living properties that offer various amenities. Many of them have a strong preference for separate rooms with small kitchens.
Settl offers fully furnished and equipped BHK units in more than half its properties.
According to a report by JLL India, the co-living market in the country is expected to grow at a compound annual growth rate of 17% in the next five years to nearly $40 billion (about Rs 3.3 lakh crore ).
