Hong Kong’s co-living space goes upmarket
District15, developer of The Nate in Tsim Sha Tsui is leasing out space from HK$15,000 (US$1,911) to HK$25,000, rates relatively steep by co-living standards, though property agent JLL said rents for such space could start from HK$2,800 a month to HK$20,000. The development offers 71 sparsely-furnished units with large-sized beds and private bathrooms, and a common kitchen and living room on the rooftop. District15, which is also a property developer, said it was banking on design for its properties to win interest, albeit the small usage areas. “As prices go up, there is not much alternative for flexible and good quality accommodation under HK$25,000. We are trying to seize the market,” said the firm’s co-founder and managing partner Alex Bent. Co-living space has become increasingly popular in Hong Kong where owning a flat is a luxury as residential property prices continue to soar, defying government cooling measures to fizzle out the overheating.
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