Despite the recent increases in single-person households in South Korea, co-living is expected to become a more entrenched residential trend, says JLL.

According to new research from the firm, co-living targets are young single-person households, college students and international students. Furthermore, co-living assets are proving attractive to single-person households seeking a communal and convenient living environment, and college students and international students tend to prefer co-living due to many housing-related restrictions such as lack of dormitories.

“With the growth of the corporate rental housing market, competition among co-living operators will only intensify, as will concurrent investor interest. In Korea, we see the growth of the corporate rental housing market, along with the expansion of the monthly rental market,” notes Veronica Shim, head of research, JLL Korea. “Various co-living operators such as affiliates of large corporations and co-wo