Hong Kong and Singapore, rival finance hubs in Asia, may have vastly different housing markets, but one thing they share in common is a relative abundance of co-living options.
Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. Founded in Hong Kong in 2014, Dash first operated serviced flats and a hotel before venturing into co-living space in the city. It expanded its co-living business into Singapore in January and now has more than 1,000 units in the two cities.“Demand for inner city living especially from the millennial workforce, as well as a strong gig economy, are the key reasons for the co-living market to be relatively successful,” said Desmond Sim, head of research for Singapore and Southeast Asia at CBRE.
But there are similarities too. Both Hong Kong and Singapore are among the world’s most expensive cities to own a home, ranking first and third, respectively, according to CBRE’s Global Living 2020 report released in April. Both cities also have a sizeable expatriate population and their universities are among best in the region, attracting large numbers of international students.
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