Oyo Living, CoHo Living, stayAbode and Placio are among the co-living companies backed by the likes of Goldman Sachs and Sequoia Capital which are capitalising on growing demand for the service in tier two Indian cities including Jaipur, Delhi and Lucknow. The accommodation, aimed at single professionals and millennial students, offers shared amenities such as Wi-Fi and washing machines, as well as rooms. Analysts said landlords in the nascent co-living sector could get rental yields of between 8% and 11%, compared with 1% to 3% on traditional residential properties.
Oyo Living, CoHo Living, stayAbode and Placio are among the co-living companies backed by the likes of Goldman Sachs and Sequoia Capital which are capitalising on growing demand for the service in tier two Indian cities including Jaipur, Mathura and Lucknow. The accommodation, aimed at single professionals and millennial students, offers shared amenities such as Wi-Fi and washing machines, as well as rooms. Analysts said landlords in the nascent co-living sector could get rental yields of between 8% and 11%, compared with 1% to 3% on traditional residential properties.