Co-living shakes up the rental market in Luxembourg!

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Rudolphe ABEN

Co-living shakes up the rental market in Luxembourg!

In major cities around the world, more and more people are moving into new types of housing based on the co-living model. In Luxembourg too, this alternative seems more than ever adapted to the needs of its occupants, who are generally young and passing through due to a tight rental market and a context in which many people are looking for short-term housing.

A modest personal space, but a multitude of shared amenities

Co-living is gaining popularity in most major cities, after initially gaining traction in metropolises around the world. These modern dwellings are hybrids, featuring both individual and community spaces.

Specifically, tenants can expect to have a studio or room that is between 15 and 30 square meters in size. They can relax and sleep in peace, with access to a full bathroom and a compact kitchen.

They are also welcome to use all the common areas, which may or may not be the same from one building to another. Some developers include spas, movie theaters, sports courts, libraries and even bars in their rental buildings to attract more tenants. Coworking spaces, shared lounges and ancillary services like self-service bikes and electric scooters are common features of this type of rental housing in the Luxembourg real estate market.

Who can move into a co-living home?

Finding a rental home in Luxembourg can be difficult, especially if you're just passing through and don't intend to settle down permanently. To a greater extent than usual, young people and transients are ideal candidates for co-living situations.

Although we tend to see more young people and singles in these buildings, everyone is welcome to rent an apartment there. You need to be sociable and open to new people if you want to thrive in this type of rental. But don't worry, everyone has their own private space, whether it's a room or an entire studio.

What is the going rate for roommates?

Rents in a co-living apartment are lower than average because residents have fewer responsibilities. As with any traditional apartment, you will need to purchase furniture, pay utilities and sign up for internet service. The total cost of a co-living apartment includes everything listed above. Especially if you are only staying for a short time, it may not be more expensive than renting an "empty" apartment.

Co-living is growing rapidly in some countries, including the United Kingdom, where it is serving as the economic base for a number of new construction projects. This investment opportunity is attracting investors as it offers them a way to diversify their holdings. The duration of the lease and the location of the taxpayer are not yet regulated by law in Luxembourg. Ministers have already stated that they are discussing new laws to adapt the rules to the new practices.