What’s behind Sweden’s unlikely co-living craze

52% of Swedes live alone — the highest rate among European countries

TRD NATIONAL /
Apr.April 21, 2019 01:00 PM

(Credit: iStock)

In a country where 52% of households are single people, co-living would seem like a unlikely bet, but a dire housing shortage seems to fueling a societal shift.

Residential properties in Stockholm marketed as co-living quarters have increasingly started to attract tenants discouraged by the conventional rental housing market, according to the New York Times.

Though Stockholm is often cited as one of the best European cities for everyday living, the Swedish capital has little rental housing available, especially for lease terms longer than a year. (Owners generally are prohibited from subletting apartments for more than a year.)

A study by the Stockholm Chamber of Commerce found that conditions in the housing market have discouraged as many as 150,000 people from moving to the city since 1995. Rent control has also discouraged residential real estate development and contributed to the scarcity of rental housing.

Stockholm’s mayor, Anna Konig Jerlmyr, called co-living “a solution for so many problems we have in our city.”

In response, local co-living companies are beginning to open up properties outfitted with shared housing spaces.

Last year, two Swedes founded the company, Colive, and their first location opens next month for 11 residents. There’s also K9, a former hotel that was converted into a co-living property in 2016 and now houses 50 residents.

Colive founder Liljestam Beyer told the Times that the company plans to create tens of thousands of units in new locations over the next 10 years: “We are going to make co-living a new way of living in Sweden.” [NYT] – Mike Seemuth


Related Articles

arrow_forward_ios
Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

From left: Ben Carson and Grant Cardone

Opportunity Zones, luxury residential pricing, the diversity dilemma and more at TRD Miami’s Showcase & Forum

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

arrow_forward_ios