Till Distance Keeps Us Apart - Does The Future Of Co-Living Look Bright After The Pandemic?

Abstract

Thepaper studies the entry of the co-living industry in India and its growth over the span of five years. It determines the consumer’s intentions to opt for a co-living Space post-pandemic and the factors considered essential by them for choosing co-living in the future. The study recognizes the objective of the co-living brands to further business in the future. It helps in understanding the preference of Indian millennials to accept co-living Spaces over rented accommodation. The paper uses a mixed methodology, using qualitative interviews to design the quantitative questionnaire. This is an exploratory study to find how the covid-19 pandemic has affected a nascent co-living industry in India and compare among the various players in the industry about the future course of action. Residents have a slightly negative response towards this venture, as they are still under the mind-set that co-living will be unable to deliver the modern renting experience any different from the traditional PG system. While the company officials of the various co-living brands are having a mixed review of the pandemic but with a general feeling of a complete revival of the business in the future. The study implies that after the pandemic people would prefer organized rental living such as co-living spaces to regular PGs or rented flats due to the need for a more luxurious, comfortable, well managed, and hygienic lifestyle of living