Co living Singapore; A Cheap Living Option For The Expats in Singapore

In the past few years Singapore’s real estate landscape and rental plans have changed dramatically due to factors like post-COVID economical challenges, rise of fast paced life and increasing numbers of foreigners coming to Singapore. 

This change in landscape has led to a shift in the lifestyles of the people residing here with the introduction of Co living spaces in Singapore, which within a few years has taken rise and gained popularity among young populations. 

According to surfacing trends, many locals and especially foreigners or expats, looking for rental options for their stay in Singapore consider coliving in Singapore a cheap option, that, unlike private rental apartments, doesn't break their bank in these rising economic pressures globally. 

Why Do People Prefer Coliving Over Rental Apartments?

These days, people looking for living options in Singapore, especially students or young people with jobs tend to consider and prefer living in co living spaces due to its unique benefits:

High Property Costs and Rising Rents

Finding a home in Singapore, particularly if it’s in prime locations comes with a heavy price tag attached. It is one of the world's most expensive cities, with property prices and rental rates changing frequently. In such situations, coliving spaces are a low-cost option without compromising on quality. By splitting amenities and dividing costs with other residents, you get all the perks of city living at a fraction of the cost of paying for a standalone apartment. You also won’t have to face any hidden costs. Many rents also cover utilities, Wi-Fi and even cleaning services, so you can plan a budget with confidence. It’s a low-stress approach to covering living expenses.

Mostly, affordable coliving spaces are found in the Outside Central Region (OCR) regions, which are slightly outside the city center but are still well connected with the CBD through easily accessible public transportation options. 

Convenience and Hassle-Free Living

Living in a private studio apartment comes with a bag of responsibilities. You have to juggle between your busy professional or corporate life and household responsibilities like cleaning, maintenance, plumbing and other minor and major day to day tasks. In that sense, coliving spaces make your life easier by taking care of everything from utilities and maintenance to cleaning services and fully furnished interiors. This all-inclusive model is a game changer for clients from busy professionals, expatriates, and digital nomads who want a convenient lifestyle without dealing with the logistics of traditional renting.

Demand For High Living Standards 

Chic interiors, cutting-edge amenities and well-planned spaces; Co living Singapore offers aesthetics and comforts that give tough competition to rental apartments. Many are equipped with coworking spaces, gyms or rooftop terraces, allowing residents to enjoy a high standard of living without the price of an upscale apartment. The best part? You don’t have to compromise. These spaces are made with contemporary urban life in mind, providing comfort and utility, without breaking the bank.

How is Coliving Suitable For Expats? 

Singapore’s position as a global financial and business hub attracts expatriates, remote workers, and digital nomads. Coliving offers a seamless transition for those moving to the city, with ready-to-live-in spaces and a built-in community. With its numerous benefits, expats prefer coliving spaces 

HBD properties

HBD properties also called Housing & Development Board properties are public housing units developed by the Singaporean government to ensure feasible living for the citizens and permanent residents of Singapore. However, foreigners or expats are not allowed to buy these properties, they can only rent them. But with the stringent rental regulations for foreigners and limited access to affordable public housing, expats often face high costs when renting private apartments or condominiums. Hence, coliving spaces present an attractive alternative, offering fully furnished accommodations at more competitive prices, along with flexible lease terms that don’t tie them into a long term commitment. 

Desire for Community and Multicultural Connection

For expats or foreigners, urban living can be isolating, but coliving spaces foster a sense of community. Sharing common areas like lounges, dining areas, and regular social events with local residents or foreign individuals, allows opportunities to meet like-minded individuals, form friendships, and collaborate with individuals from different cultures. This sense of belonging with a unique experience of multiculturalism is particularly appealing to expatriates and newcomers who are building a social network in a new city.

Flexible leasing 

Unlike traditional leases that lock tenants into long-term commitments, coliving spaces offer flexible rental terms, from monthly stays to longer durations. Unlike HDB rented flats or properties which tie them into a six month lease, coliving spaces offer easy three month contracts. This appeals to expatriates, freelancers, and those in career transitions who value freedom and mobility.

Prime Locations

Coliving spaces are typically situated in central or well-connected areas like CBD which include Orchard, Tanjong Pagar, and Bugis or on the contrary these spaces are situated in the Outside Central Region (OCR) regions like Tampines or Upper East Coast. This ensures easy access to workplaces, public transport, dining, and entertainment hubs, reducing commuting time and enhancing urban convenience.

Bottom Line

The well thought out living design suitable for expats, students, professionals, makes coliving Singapore a cheap, high-quality housing solution for those looking for hassle free and community friendly living. With affordable amenities, flexible renting options, and strategic locations, coliving spaces offer an accessible and enjoyable alternative to private rentals in cities.