According to data from the British Red Cross and Co-Op, nine million people in the UK reported that they often felt lonely, and struggled to make lasting connections with others. This sentiment has exacerbated in lockdown, with people being confined to the company (or lack thereof) of those in our own homes.
Living conditions are one of the main contributors to the feeling of loneliness, and in the pandemic, people have become increasingly reliant on their housemates for social interaction and entertainment, highlighting the rising trend of co-living.
What does co-living look like?
Co-living suggests a new, “hip” term for the well-known shared apartment. But there is more to its meaning than that: living and working with like-minded people with the least possible organisational effort. For those interested, you can move in from the time of booking, and the rooms are usually rented fully furnished, which helps to simplify the moving process.
Co-living can be seen as an “all inclusive” model for the tenant, whereby the provider usually takes care of incidents, repair costs and the internet. A regular cleaning service is also included in many co-living apartments, allowing tenants to focus on getting to know their new flatmates without worrying about the day-to-day issues that they could easily fall out over.
An ever-increasing demand for new rental solutions in urban areas
The demands of young professionals, the self-employed or remote workers are transforming the global real estate market and the way we live together. Many flat-share or co-living providers now offer a platform for people who want to live their own life, but still value community as an essential contributor to personal well-being. In hectic everyday life, few people manage to find the time to socialise regularly, with a quarter of people saying they find it difficult to make new friends. Co-living provides the perfect solution, striking the balance between socialising and remaining independent.
In addition to economic uncertainty, the additional pressure caused by working from home is a major contributor to psychological stress. This is compounded further by social distancing measures which can lead to social isolation. It is striking that almost all population groups, regardless of age, reported a comparable increase in loneliness.
According to a survey carried out by the Mental Health Foundation, feelings of loneliness increased by 14% during lockdown among adults in the UK, making the need for co-living more vital than ever before in order to counteract the impact of long-term loneliness on mental health.
Better together: why co-living is needed to combat loneliness
Co-living enables tenants to build a friendship with others with whom they share a home. In fact, those who live with others reported being happier during lockdown.
Nearly three-quarters (73%) of Badi users found that sharing a flat drastically improved their experience during lockdown, while more than half (55%) of Badi users decided to stay with their flatmates during the pandemic. Building a community at home is a key component that many tenants are looking for today when renting - and co-living is the solution.
