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by Suryaa |
The population is constantly growing and people are joining the workforce with high-paying jobs and quality accommodation. However, there are now many options available to the public such as choosing the whole space at a higher cost or choosing shared spaces with affordable rentals.
Co-Living Companies
Co-Living companies in Hyderabad are aware of this demand for co-living accommodation and are offering them by creating superior options.
For example, co-living companies such as Zolo, Oyo Life, Stanza Living and Hauser operate in Hyderabad. The influx of students to major cities like Hyderabad has been attributed to the concentration of private and public universities.
In Hyderabad, it costs Rs.16,000 per month for single occupancy, Rs.8,500 per month for double occupancy and Rs.7,750 per month for triple occupancy. Like other cities, rents in Hyderabad fell by 10-25 per cent after Covid-19 Pandemic. Although the epidemic has damaged the growth story of the co-existence sector in 2020, it has already achieved a revival in 2021.
The primary contributor to the recovery is the vaccine growth rate. Also, in the midst of the epidemic, the hiring of IT companies has picked up rapidly, followed by the strong performance of the sector, which will boost demand for co-living in the coming quarters. Hyderabad will be at the forefront of co-living, said Ramesh Nair, CEO and Managing Director of Colliers, India.
