European trend designed to improve housing affordability gains momentum in Australia

A European trend making its way here could soon help improve housing affordability in 2025. Welcome to the concept of co-living. 

“There is an increasing amount of development and investor interest in ‘co-living’ developments,” says award winning architect James Alexander-Hatziplis, co-founder and CEO of Place Studio.

“Co-living developments are a modern European housing concept designed to provide a blend of private affordable apartments, coupled with increased communal living spaces,

“Each apartment typically features a bedroom, premium bathroom and small kitchen while also providing shared common areas such as large communal living spaces, shared co-working spaces and recreational facilities. The apartment can be something between a studio and one-bedroom apartment in terms of design.

“Ultimately, this means that more apartments can be fitted into a development and at a more affordable price for residents - especially for new home owners.

“By sharing some common amenities, whether it’s recreation areas, laundry facilities, BBQ areas, storage and/or parking – costs can be reduced, making it affordable for first-time home owners,” says James. 

For investors, it has the added advantage of better space usage, which can increase the number of apartments that can be built on a given piece of land. 

Some key aspects of co-living development design include:

• Community focus: Co-living spaces are designed to foster a sense of community among residents. 
• Affordability: By sharing common areas and amenities, residents can often enjoy lower living costs compared to traditional renting and/or purchase.
• Location: These developments are often situated in well-connected urban areas, providing easy access to work, study, and recreational opportunities.
• Eliminates the financial liability of having a roommate: Co-living does away with some of the financial anxiety of living with others, as well as giving the resident the benefit of owning their own space.  
• Living lighter:  Co-living naturally allows for residents to adopt a sustainable, minimalist lifestyle.  

“Co-living development sites that we have taken to the market in recent months have been snapped up by buyers very quickly, demonstrating the strong buyer demand in this space,” James says.

In Australia, each co-living apartment tends to range in size from 22sqm to 35sqm internally, is equipped with a double bed – suitable for two occupants – with its own generous kitchen, premium bathroom and small veranda.

Only a handful of projects across Australia have the concept of co-living at its core. Two projects have been designed by renowned architect firm, Place Studio who have delivered over $3.5 billion in mixed-use construction projects. 

The Kirrawee project, 'Isabella' is a new generation boarding house that is a thoughtfully designed residential development offering residents a modern lifestyle. It comprises of 62 studio apartments across five levels with secure two-level basement parking. The apartments each have high quality finishes including sleek kitchens and bathrooms with modern fixtures. 

Residents can enjoy a spacious north-facing communal space, making for the perfect place to mingle or relax in style. The development also includes a common outdoor space designed for community interaction and relaxation in a shared space. 

It is only a short 1-minute walk from Kirrawee station and suits someone looking for an urban lifestyle. 

PLACE studio was the design architect for this innovative New Generation Boarding House development, The Glebe. This project features 17 thoughtfully designed rooms around inviting communal areas, all aimed to bring a sense of community in a modern environment.