Monday, August 2, 2021

Co-Living In Singapore – What Are The Costs And Is It Worth It? 

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In the past, the idea of “co-living” or “flat-sharing” used to be the option for people experiencing financial constraints. However, recently it has started to become a trend for people to live together and share the same space. 

How much do co-living spaces cost in Singapore? 

While it is more expensive than sharing a space in an HDB apartment, co-living spaces do offer reasonable prices of $1,200 to $1,500 a month per bedroom. This also includes the full amenities provided by condominiums such as furniture, various utilities that cover the cost of electricity in singapore as well as cleaning services. 

Co-Living In Singapore - What Are The Costs And Is It Worth It?  1

Hmlet Singapore – Pocket Rooms 

For an affordable $1,000 per month, Hmlet Cantonment is a co-living space located in Tanjong Pagar which offers a single bed and nature-themed aesthetics. In general, the company has 49 properties all over Singapore and everything is well decorated with houseplants and rattan furniture. For people who are looking for a small comfy space, these Pocket Rooms may just be the thing for them. Options for more spacious rooms to whole apartments are also available. 

Cove Co-Living – Standard Rooms 

For also $1,000 per month in areas away from central, Cove offers rental spaces all around the island. The design of these spaces is more minimalistic, and unlike Hmlet’s natural appeal, the start-up company also provides a matching service for people looking for flatmates in their apartments. 

85 Soho Boon Lay – Studio apartment 

While Boon Lay may be a distance away from central Singapore, if one does not mind, it is one of the most affordable studio apartments available in the country. The studio costs $1,200 per month with individual toilets as well as shared areas such as a lounge, kitchen, and even a BBQ pit.  

Login Apartment – Common Bedrooms

Unlike Hmlet and Cove, Login Apartment requires one to apply for the bedrooms through a webform and call. While the lack of an online booking platform may throw people off, it offers properties in decent and convenient locations such as Orchard, Novena, Queenstown, and East Coast. The most affordable rental available would be the one on East Coast, starting from $1,200 per month for a bedroom. 

CP Residence 

With 28 properties around Singapore, CP Residences does not focus on the aesthetics of their co-living spaces, unlike the previous entries. However, it does offer some good prices at $1,400 per month in good locations such as Orchard Road, which is surprisingly affordable for living in central Singapore. 

EasyCity – Common Bedroom 

While EasyCity seems to be more of a property site rather than a co-living company, it offers about 16 room rentals at affordable prices. For $1,400 per month, one can obtain a room in Aljunied along with the internet. This also includes weekly cleaning and basic utilities that EasyCity provides. 

Lyf Funan Singapore – Hotel 

As Lyf Funan provides amenities comparable to hotels, it is one of the most expensive co-living spaces on this list. The most affordable price available would be $1,485 per month for a person sharing the space with three other individuals. For long-term stay, the space may be too expensive an option. However, for people staying in Singapore for one to three months, their weekly rentals may be worth looking into. Lyf Funan provides shared spaces such as a lounge, kitchen, and even swimming pool. Not forgetting the Funan mall right below the hotel for the ultimate convenience. 

Figment – Rooms and Suites 

While Hmlet and Cove provides some of the best aesthetics available in this list, Figment turns it up a notch further by allowing one to experience living in a preserved shophouse. For people interested in Singapore’s beautiful local designs and furniture, these shophouses are also located in heritage areas such as Joo Chiat, Little India, and Geylang. For more affordable rooms, one can expect to pay $2,000 per month while the suites go up to prices of $4,000 per month for a more roomy feel. 

Commontown – Standard Rooms 

Rivaling Hmlet’s cozy aesthetic, Commontown offers seven properties around the area with beautiful decorations. The company also offers events to bring the community together which may be perfect for people looking to socialize and make friends. These standard rooms begin at $1,600 per month at Tiong Bahru. 

Singapore and co-living – Is it worth it? 

While some of these prices might seem a bit tall for co-living spaces, it is notable to know that some of these rental prices are still cheaper than local condominiums around the island. The lowest price for a common room in a condominium ranges from $1,400 to $1,500 per month, which also does not include the extra costs of buying furniture and using the amenities. On the other hand, co-living spaces offer shared spaces and utilities without additional costs as these are already included in the rental prices of the rooms and apartments. 

The leases for co-living spaces are also quite flexible as some properties allow people to move in the very next day. Apart from fulfilling the three-month stay requirement in Singapore, extending one’s stay for months instead of years is also an option. The application process for co-living spaces is also much more convenient as online booking sites are available, one may bypass the administrative work that comes from renting an apartment. There is also no need to deal with landlords during the stay or find property agents for available properties around the area. 

However, some downsides of co-living include the overly emphasized social activities and spaces that are provided as well. For introverts who are looking for a space to lie low, the shared amenities such as lounges and toilets may prove to be a tiring experience. Not to forget some of these companies also offer events and ‘social’ versions of these necessary spaces such as social kitchens. One may even find flatmates to consist of travelers stopping by Singapore on their holidays rather than familiar locals. Nonetheless, it can be a fun experience for those looking to live independently in Singapore without having to buy a house; which can arguably be quite pricey! 

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