Young and fashionable willing to pay a premium for co-living space as government backs segment
Longfor Properties charges up to 20pc more rent for its co-living rooms
Yuppies with the taste for communal living in Beijing are being spoiled for choice as an increasing number of private firms move into this latest strand of residential leasing, thanks to backing from the government.
The latest in a long line of operators now getting involved in the trend is Longfor Properties, which is bringing its “Guanyu” long-term apartment leasing concept to the market.
The project has devoted an entire floor to “public space”, which includes a cafeteria, kitchen, pantry, gym, and even pool and table tennis tables.
Located in the culturally vibrant Jiuxianqiao area, just south of the city’s famous 798 Art Zone, the project offers 462 rooms for rent, with co-working spaces and retail stores on the lower levels. Launched just less than a month ago, the condominium has already attracted many young workers who have jobs nearby, and now boasts an occupancy rate of well over 60 per cent.
“It’s difficult to lease a whole building in Beijing’s central areas,” said Cui Mei, Longfor’s account manager for the project, as there are relatively very few fully able to be adapted to provide such a service.
Until now, operators have been able to offer various small-scale co-living rooms, spread throughout different buildings in various districts.
