·1 February 2024

Co-living Company in Southeast Asia: Growing Demand for Collaborative Space

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Co-living Company in Southeast Asia: Growing Demand for Collaborative Space

Co-living company in Southeast Asia is thriving and continue to grow as it offers flexibility and a chance of networking among young adults.

In recent years, the sharing economy has driven the rise of collaborative consumption among the younger generations in Southeast Asia. It is proven by the growing numbers of companies that enable the sharing of goods and services, for instance, co-living companies in the region.

EY’s report titled “Building successful digital ecosystems in Southeast Asia” published in August 2021 stated that the growth of collaborative consumption and sharing economy in the region is supported by the average internet penetration that reaches 63%, as well as the increasing tech-savvy middle-class population. As a result, it creates opportunities for sharing economic business models across various sectors including property.

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Proptech Company Promising Outlook in Southeast Asia

The report reveals that Southeast Asia has been a home for more than 750 proptech (property technology) startups in various segments, from home interior platforms to co-living providers. The number is expected to keep flourishing since traditional players will continue to partner and invest in proptech. Meanwhile, the demand for flexible property rent and alternative accommodations will keep growing.

EY’s report strengthens the prediction from property consultancy Jones Lang LaSalle (JLL). In October 2019, JLL published a report titled “Demand & Disruption in Global Cities” that forecasts rising innovation economics. The new economic model will lead to demands for flexible and optimized space that allows collaboration, innovation, clustering, and commercialization in business centers.

At the same time, other new economic models are also expected to create new demands in the property sector. It specifies that the experience economy will drive customers to ask for customized experiences and the sharing economy will boost new patterns of living and working.

Meanwhile, from the building management perspective, the circular economy will help to make the operation more efficient and resilient through shared occupancy. 

The report states that cities in Asia Pacific that are able to adapt to those new economic models will “enjoy new sources of real estate demand and attract higher cross-border investment”.

The Trend of Co-living Company in Southeast Asia

coliving providers in jakarta

Co-living companies promote communal living as a part of the urban lifestyle. It enables the customer to rent a room and live with a group of other adults under the same roof with flexible payment terms. The main concept of co-living is to share a space with others and create a community out of it.

The rising trend of co-living is influenced by the lifestyle of younger generations (Millennials and Gen Z) who opt for flexibility and collaboration. Co-living companies cater to this demand as they allow customers to rent a room on a monthly or even weekly basis. On the other hand, it also provides a space to expand their network and collaborate with their housemates.

The younger generations, who tend to be tech-savvy, also create opportunities for co-living companies to be digitally enabled. Nowadays, customers can search for their preferred room to rent only with the tip of their fingers. Most co-living companies enable room searches and even room customization directly from their website or application.

Those factors were followed by the high cost of buying property in Southeast Asia’s big cities. This led younger generations to seek more affordable options for their living spaces. Hence, co-living companies have a big opportunity to thrive in this region.

Rukita, The Reputable Co-living Start Up Company in Southeast Asia

Considering the aforementioned factors, it is not surprising to see the number of co-living companies in Southeast Asia continue to increase. One of the property technology companies that is currently growing in the region is Rukita.

Rukita is an Indonesia-based proptech startup company established in April 2019 that aims to improve the quality of life in urban areas. The company provides a property management service that covers core aspects of urban lifestyle through co-living space.

Rukita focuses on building community, as well as providing convenience and a positive experience for all of the people who live in its co-living space. Customers can book a room for a minimum 1-month stay via the website and app. Rukita’s co-living space is currently available in Jakarta, Depok, Tangerang, and Bekasi.

Recently, Rukita proudly unveiled a revamped mobile app and website experience, designed to be cooler, simpler, and more user-friendly. Featuring a fresh and modern aesthetic, the new interface facilitates easier navigation and enhanced usability.

Intuitive menus and visually appealing layouts ensure users can seamlessly access all functionalities without any fuss. This streamlined approach simplifies the search for your dream home, making the decision-making process more convenient and enjoyable.

Update your Rukita app to the latest version on the App Store or Play Store to experience this enhanced journey and discover your perfect co-living space.

One of the proptech platforms for landlords in Indonesia

Rukita offers a comprehensive suite of services for landlords, aiming to optimize profits in the property business. From giving buildings and rooms a makeover to capturing high-quality photos and videos, Rukita ensures that properties are presented attractively to potential tenants.

These listings are then showcased on Rukita’s website, social media platforms, and through various digital and offline advertisements, bolstered by robust marketing and sales efforts to attract tenants effectively.

In addition to marketing initiatives, Rukita takes care of the operational aspects of running a rental property, including cleaning, maintenance, and other services, freeing landlords from the hassle of day-to-day management. Through Rukita’s platform, landlords can effortlessly track occupancy rates, monitor room statuses, access tenant data, and review financial reports.

Furthermore, Rukita handles tenant management, addressing all tenant needs and concerns promptly, ensuring a seamless living experience and peace of mind for both landlords and tenants alike.

With Rukita’s automated rent collection system, landlords receive their rental income on designated dates, with Rukita responsible for collecting fees from tenants, simplifying financial transactions and reducing administrative burdens.

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Rukita offers Rufinance for financial solution in property business

Moreover, Rukita offers Rufinance, a financing solution developed in collaboration with OCBC NISP, designed to expand customers’ investment portfolios through co-living property ventures.

With OCBC NISP providing financial assistance for property purchases or renovations, and Rukita offering design, renovation, and property management services, Rufinance empowers landlords to grow their property investments with confidence, backed by trusted financial support and expert operational management from Rukita.

Updated by Aziza

Rukita stands as the premier co-living company in Southeast Asia, offering unparalleled services for both tenants and landlords. With a commitment to maximizing convenience, profitability, and satisfaction, Rukita continues to redefine the rental experience, setting the standard for modern living solutions in the region.

Want to find a comfortable, modern, and strategically located apartment to stay in? Rukita offers many kinds of apartments that you can rent to live a more comfortable life.

Don’t forget to download Rukita app via Google Play Store or App Store or visit www.Rukita.co. Follow Rukita’s Instagram account @rukita_indo, Twitter account @rukita_id, and TikTok account @rukita_id to get the most recent information and other interesting deals!

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