Co-living Spaces: An Up and Coming REIT Investment Trend!
The idea of community living is becoming more and more well-liked as more young professionals relocate to other locations for employment. In Bangladesh’s major cities, co-living space is a relatively recent trend.
Thanks to co-living spaces, when you relocate halfway across the nation to a place without an established support system of friends or family you don’t have to worry about buying a refrigerator, being alone or even establishing an internet connection.
Co-living alternatives in Bangladesh include houses, apartments, and multiple occupancy units. The current emphasis is mainly on working people and students. Due to their operational demands, co-living spaces are challenging for investors and organizations to scale. The following are some challenges that co-living overcomes:
- 01. Work is closer to people
- 02. Flexible Options for Renting
- 03. Having access to luxury amenities
- 04. Cost-Sharing for Regular Daily Expenses
- 05. Interaction and Social Events
01. Serviced Apartments
ReitBD Housing offers an amazing temporary co- living space experience in the greatest housing options in the area, whether you’re organizing temporary housing for mobile staff.
02. Administration
All of the facilities management services we provide are supervised and managed by a ReitBD facility manager. Our management and support services will be tailored to your company’s needs.Â
03. Healthy Lifestyle
The help of private counseling and resources from Healthy co- living space services, people may take better care of themselves and manage a variety of health concerns.
04. Fully Equipped
Business travelers, relocated employees, and project teams who require short or long-term housing can take use of ReitBD’s fully furnished apartments. Â
Enjoy Our Expert Solutions for 3 Types Of Co-Living Spaces
1. Flexibility
Co-living Space is a fantastic choice if you don’t want to sign a long-term lease (let alone purchase furnishings and appliances for a home you might only live). This is especially helpful if you’re going to a new location and want to explore the neighborhood before deciding to make it your permanent home. The services provided by ReitBD Co-Living space help you.
2. Cost-Effective
Rent is the most expensive monthly expense for those under the age of 30, taking up an average of 45 percent of their income. Living with roommates is therefore one of the most economical ways to reduce expenses if you’re trying to do so. Because co-living spaces have minimal rent, you won’t have to buy your own couch or wifi router if you choose to live in one.
3. Responsibility
The financial worries associated with co-living are somewhat reduced by co-living space. Co-living Space offers individual room leases, which takes the worry out of roommates who don’t pay their share of the rent or leave early. Rent and utilities are included in one monthly payment, so you won’t have to pay for utilities up front and then bug your roommates about it.
Facts to Know About Co-Living Space Facilities in Bangladesh
The Best Choice for Working is Co-living
The Most Affordable Housing Option is Co-living
Living Together For Co-living
Technology and Business Coexist in Coliving Spaces
The Best Choice for Working is Co-living
The main factor fueling the popularity of co-living spaces is the growing influx of young tenants to new areas in search of convenient access and affordable rental housing. So, even while your bedroom offers protection, comfort, and solitude, you may always go outside and socialize with others who have similar interests. The idea of community is not new; but, unlike in the past, millennials are now more likely to be united by their lifestyle choices than by their religious beliefs or other causes. Youth choose more sociable and flexible housing options. The younger generation is increasingly into the concept of “home.” The younger generation is increasingly saying, “Home is where the fun is.” Some of the primary explanations for why co-living is the best financial decision for young professionals are as follows:
- You cut costs
- Dealing with players who are organized is necessary
- There are specialized amenities provided
- You may do so close to your place of business
- Create community
The Most Affordable Housing Option is Co-living
Bangladesh has been dealing with a land crisis for years as the country’s expanding population outpaces the amount of accessible residential space. The need for personal space is increasing, yet there aren’t enough resources to provide it. In addition, few people can afford to buy a home in places that generate jobs like Mumbai, Hyderabad, Bengaluru, and others. In this way, co-living space can transform the crisis into an opportunity. Since many economic zones and CBDs as well as private businesses in the distribution and technology sectors are interested in implementing this idea, the affordable housing segment may undoubtedly gain from this growing trend. Traditional rental housing came with a lot of restrictions on tenants.Â
Living Together For Co-living
The benefits of staying in a hostel when you’re on the road include meeting like-minded people from all over the world and having the opportunity to bond over board games and pub crawls. Coliving encourages a sense of togetherness in how people live because all resources are combined and expenses are split. Contrary to certain communes, those who choose co-living maintain normal social relationships while preferring to live among like-minded individuals. Co-living has consequently gained popularity all around the world, with numerous groups providing multiple locations. It appeals to them since so many individuals want to connect with others and become a part of the community.
Technology and Business Coexist in Coliving Spaces
This might be the case because hybrid technology, as opposed to pure technology, is used to offer the best possible client experience. To provide an outstanding customer experience, businesses must establish a balance between operational and technical usage. Combining operations and technology enables companies to expand into additional markets. Contrary to certain communes, those who choose co-living maintain normal social relationships while preferring to live among like-minded individuals. Co-living has consequently gained popularity all around the world, with numerous groups providing multiple locations. It appeals to them since so many individuals want to connect with others and become a part of the community. It’s simple to open your door and start a new friendship or even a business when you reside in a co-living community. Financial relief, assistance from the local community, social interactions, and a sense of community are other advantages.
The Future of Co-living Space in Bangladesh
Technology has ushered in a plethora of new choices for investing in real estate and renting out space in Bangladesh. The sector has advanced to unprecedented heights in just ten years. The co-living space industry in Bangladesh will reportedly reach $1 trillion in 2023. The co-living industry is gradually displacing traditional housing in Bangladesh. It offers millennials a respectable standard of living without emptying their bank wallets. Because of inexpensive housing, the idea of luxurious life has changed.Â
The co-living space sector is expanding swiftly in Bangladesh, and new business models are being introduced. For students and young working professionals who are served by entrepreneurs, it has opened openings in particular. Co-living investments are increasingly a popular way for Bangladeshi investors to diversify their holdings, with Bengaluru, Hyderabad, Chennai, and Pune seeing the highest demand. A few of the elements influencing its rising acceptance are as follows:
- Constant Demand
- Low Maintenance Cost
- Increasing Rental Income
- Living Costs Are Rising
01. 1 Bedroom Rental
We provide 1-bedroom apartments with the comfort and luxury you’ve always desired, as well as views of the city skyline. Reduced living expenses and improved resident comfort are two advantages of co-living spaces.
02. 2 Bedroom Rental
The co-living movement enables people to live cheaply with others who have similar interests. We can help you find the most comfortable two-bedroom suite. We provide all the comforts you need.
03. Short-term Rentals
The simplest definition of a short-term rental is one that is for a period of time shorter than the typical lease term. Through some short-term rental businesses, you may even hire desks and rooms by the hour or the day.
04. Apartment Rentals
It is very normal to find studio apartments in Dhaka. There is nothing you need to disclose to anyone. A fridge, AC, and smart TV are all included in its full equipment. It is furnished co- living space in this unit.
FAQs For Coliving Space
Foreign direct investment is defined as the acquisition of a long-term stake, typically with at least a 10% ownership interest, in a company that is located outside of the investor’s country of residence with the aim of having a meaningful influence on the company’s management.
The following are the possible avenues for foreign investment:
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Automatic Route: All activities and sectors listed in FEMA 20 Regulation 16 are eligible for foreign investment under the automatic route, which does not require previous clearance from the government or the Reserve Bank of India (R).
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Government Route: Prior authorisation from the government is necessary for foreign investment in activities that are not covered by the automatic route.
Through PMA (Penanaman Modal Asing), a foreign individual or foreign company may conduct business in Bangladesh. Based on Law No. 40/2007 regulating Limited Liability Companies, PMA was established (Company Law). The Bangladesh Investment Coordinating Board is where you should go if you want to create a foreign direct investment in Bangladesh (BKPM). It is the investment management firm that manages foreign finance for the Bangladeshi government. You should take the following actions:Â
- To start a Limited Liability Company, you must sign a Deed of Establishment and have the Minister of Law and Human Rights of Bangladesh’s approval.
- Obtain the Nomor Pokok Wajib Pajak/NPWP (taxpayer identification number).
- Certificate OF Domicile Certificate of Company Registration
- A 12-month temporary business permit (optional)
- long-term business permit
The government of Bangladesh is enticing international investors to put money into ventures that will create jobs, increase resource productivity, increase the volume and value of exports, and lay the groundwork for the country’s future economic growth.