India's co-living sector will be worth 20 times its current value by 2022, according to research company RedSeer Consulting. The report says that the number of people who are renting out their homes in India is expected to grow from about 1.5 million today to more than 10 million. A number of co-living firms, such as NestAway, OYO and Zolo, have significantly increased their operations recently. The expected boom will be caused, for the most part, by white-collar professionals moving to new cities and university students living away from home.
India's co-living sector will be worth 20 times its current value by 2022, according to research company RedSeer Consulting. The shared-living market in India is currently worth $120m, a 100% increase from the last year, and this figure is predicted to top $2.2bn in the next four years. A number of co-living firms, such as NestAway, OYO and Zolo, have significantly increased their operations recently. The expected boom will be caused, for the most part, by white-collar professionals moving to new cities and university students living away from home.