Millennials are embracing co-sharing services, from offices to car rides and even homes. The era of sharing a space together is not taboo and is greatly welcomed by many open-minded individuals who want to live a lifestyle that suits their budget.
These temporary spaces are plugging the gap of those who are (at the moment) not looking for long-term rentals and home ownership. It is also an option for individuals who want to live on their own or move out from their parent’s homes can do, without dealing with the fuss of buying new furniture and owning a property.
The all-in-one living services by these operators provide a fuss-free experience to busy working adults. You don’t need to spend on renovation fees or furniture and can move in almost immediately.
With Covid-19 disruption to housing construction, many are also considering these property options when renovating their homes or when waiting for their keys.
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What Are Co-living Spaces
Co-living spaces are designed and managed by firms specialised in house sharing. Renters usually only have to pay a single lump sum each month to the operator for the rental of the space, electricity bills, and cleaning fees.
You will also get to move into a space that is fully furnished, so you save on buying new beds and furniture. This frees up time for the renter instead of having to source and sign up for an electricity supplier, telco, and cleaner.
There are also community events held by the spaces and people can participate in fitness activities or sharing sessions.
Under local guidelines, co-living properties are not allowed to be used for short-term accommodation (defined as stays of less than three months).
What Are Serviced Apartments
Serviced apartments are self-contained apartments with kitchenettes/kitchens, and provide support services such as concierge, common dining areas, housekeeping and/or laundry for residents.
It’s a more atas version of renting an apartment, but is cheaper than staying in a hotel. The other benefit is the tax savings if you plan to stay in a serviced apartment for an extended period of time.
The providers are also in the business of providing accommodation and have years of experience in the industry so you can expect hotel-like service.
According to Booking.com prices, a serviced apartment in Singapore starts from $300 per night, which means that monthly rates are cheaper than daily rates.
The minimum stay for these apartments is for a minimum period of seven days or longer, and are developed and/or managed under one ownership.
A List Of Co-living Spaces In Singapore
Image Credit: Hmlet
Hmlet provides occupants, also known as members, with custom-designed fully furnished rooms and apartments tailored to fit their budget, duration of stay, and stage of life.
The cheapest room (single-bed Pocket Rooms) starts from $1,000 a month.
Community managers link you up with like-minded peers based on your profile, members are also free to run their own events and programmes such as yoga, sketching or cooking in the common spaces.
Price:
Pocket room with shared bathroom starts from $950 per month
Regular room with shared bathroom starts from $1,300 per month
Master room with private bathroom starts from $1,600 per month
Studio apartment starts from $2,090 per month
Full one-bedroom apartment starts from $3,300 per month
Full two-bedroom apartment starts from $3,500 per month
Location: Multiple locations, including Tiong Bahru, Orchard, and Cantonment
Image Credit: Figment
Think luxury co-living spaces at heritage shophouses in Singapore. Immerse yourself in local culture and enjoy the relaxing vibes of the Figment properties. Locations are also central, from Joo Chiat to Orchard Road.
15% of rental proceeds go to creators for commissions, fellowships and residences. You also get weekly cleaning, maintenance, laundry, Wi-Fi and ClassPass access.
Studios in heritage shophouses include Ambon House from $3,000 a month along Emerald Hill at Orchard Road and Fig House along Joo Chiat Terrace from $2,500 a month.
Price:
Figment suite with shared bathroom starts from $1,500 per month
Figment suite with private bathroom starts from $1,900 per month
Location: Multiple locations, including Geylang, Orchard, Joo Chiat, and Tanjong Pagar
Image Credit: Cove
Founded by three entrepreneurs who had their fair share of bad rental experiences, this co-living brand was set up with the intention to improve the standards of this space.
You can discover, view, check-in, and move in within a span of a few days. Co-living spaces you can rent from include landed houses, condos, and apartments. You also get services such as weekly housekeeping.
It offers a flatmate matching service that matches you with roommates that have similar comforts and behavior as you.
Price:
Cove Basics start from $800 per month
Cove Classic start from $1,100 per month
Cove Luxe starts from $2,200 per month
Location: 195 Pearl’s Hill Terrace, #02-16, Singapore 168976
Image Credit: LYF
There are integrated workspaces in the co-living space, and with its location being a short walk away from City Hall station, this property is one that draws the working crowd.
This location is ideal for those who wish to get work done outside of their rooms and live close to their workplaces.
Price:
Studio starts from $150 per night
Bunk Studio starts from $170 per night
Two-Bedroom starts from $230 per night
Four-Bedroom starts from $350 per night
Six-Bedroom Duplex starts from $410 per night
Location: 67 Hill Street, Level 4 Funan Mall, Singapore 179370
Image Credit: Commontown
The spaces here are for more holistic millennials who value experiences over materialistic alternatives. It has multiple locations
There are regular community events like yoga and wine-tasting sessions. Services include weekly cleaning of private rooms and communal spaces, basic household supplies, full bedding, and high-speed Wi-Fi.
The monthly bill is all-inclusive and covers room rental, utility bills, internet, weekly cleaning, and maintenance.
The minimum stay period is three months with a security deposit of one month.
Price:
Single standard room starts from $1,300 per month
Standard room starts from $1,600 per month
Junior master room starts from $1,600 per month
Master room starts from $1,700 per month
Location: Multiple locations including Red Hill, Newton, Lavender, and Paya Lebar
Read Also: Will 2023 Be The Right Time To Buy A Property In Singapore?
A List Of Serviced Apartments In Singapore
Image Credit: Far East Hospitality
The serviced apartments offer studios and two to three-bedroom apartments for singles, couples, and small families.
Its apartments have won awards, for example, the Best Serviced Residence Property (Asia Pacific) of Travel Weekly Asia Readers’ Choice Awards 2018 and 2019 for Orchard Scotts Residences.
The locations are along Orchard Road as well as in suburban areas like West Coast and Hougang.
For example, the Adina Serviced Apartments Singapore Orchard offers warm Singapore hospitality with friendly colleagues providing support to residents with travel information and guides.
Studio rooms can be as small as 387sqft and fit two people while three-bedroom apartments are up to 1,200sqft and can fit six. Housekeeping, laundry services, free Wi-Fi and light breakfast are provided.
There are also gyms and swimming pools available for most serviced apartments.
Price: From $230 per night for an apartment/ From $6,780 per month for an apartment
Location: Multiple locations, including West Coast, Orchard, and Hougang
Treetops Executive Residences Singapore
Image Credit: Treetops Executive Residences Singapore
The resort-like home away from home concept offers eco-luxury living for the mind, body, and soul.
It promotes a luxurious serviced apartment surrounded by lush greenery. Each apartment is filled with high-efficiency air filtration systems for optimal air quality. There is jacuzzi and healthy food options available too.
You can choose from one-bedroom to penthouse suites. One-bedroom deluxe apartments are 520sqft, featuring a bedroom with a separate living area facing inner green courtyards.
The penthouse spans 3,200sqft featuring three bedrooms, two balconies with pool view, a separate wet and dry kitchen, separate living areas and a six-seater dining area. It can accommodate a maximum of seven people.
The apartments have a fully equipped kitchenette with washer and dryer.
Price: From $302 per night for an apartment
Location: 7 Orange Grove Road, Singapore 258355
Image Credit: Pan Pacific Serviced Suites
There are one-bedroom deluxe suites and two-bedroom penthouses with panoramic city views.
Its two-bedroom executive suite at Pan Pacific Serviced Suites Orchard, Singapore offers a 878sqft space with an ensuite master bedroom and a modern kitchen.
The operator provides discounts on stays if you stay longer with them, as seen on their website. The stays include daily housekeeping, complimentary internet access, access to the fitness centre, and swimming pool.
Price: From $310 per night for an apartment
Location: Multiple locations including Orchard and Beach Road
Image Credit: Frasers Hospitality
There are multiple locations under Fraser properties in Singapore.
For example, the Fraser Residence Orchard Singapore has 72 units featuring modern designs, with 24/7 fitness studio access, sauna room, pool and outdoor playground.
A studio deluxe with 2 bedrooms and 301sqft comes fully furnished with integrated living, dining, kitchen and bedroom area.
Fraser Place Robertson Walk sits by the waterfront along Singapore River with indoor and outdoor fitness centres, bbq area and pool.
Price: From $350 per night for an apartment
Location: Multiple locations including River Valley, Robertson Walk, and Orchard
Image Credit: Oakwood Premier AMTD
Stay in one out of the 268 chic apartments from studio deluxe king to two-bedroom premier options.
The luxury serviced apartment is situated within the mixed-use development OUE Downtown. It offers a range of facilities and amenities including the Se7enth restaurant with in-room dining options.
There is also a round-the clock fitness centre, an outdoor infinity pool and jacuzzi. Each residence offers Wi-Fi, daily housekeeping, launderette services, and more.
Price: From $490 per night for an apartment
Location: OUE Downtown 1, 6 Shenton Way, Singapore 068809
Featured Image Credit: Figment
Read Also: Complete Guide To Property Tax For Homeowners In Singapore
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