Coliving in Portugal multiplies tenfold until 2021

Coliving in Portugal multiplies tenfold until 2021

The numbers are new and shown in the study carried out by the consultant together with JOYN, presented this Thursday, it reveals some new data about the state of coliving in Portugal, focusing only Purposed Built CoLiving (PBCL) projects.

«Last year, we registered more than 200 million euro in student residences’ transactions, and we are certain that within a couple of years we will be here talking about big coliving transactions», started by saying the managing director at JLL, Pedro Lancastre.

The issue, noted Maria Empis, Head of Strategic Consultancy & Research, is that «there is a new normal, which comes from the Millennials and Generation Z; originating an economy much more based on sharing and experiencing, than in owning. All this is impacting real estate, with several alternative segments popping up and creating a whole new generation of products, amongst which coliving».

According to the study, the European coliving market currently offers 23.500 beds between developing and finished projects, with more than 60% having started their operations in the last two years, which proves the segment’s rapid growth and its attractiveness to investors.

More than 500 beds on the pipeline in Lisbon

The results of the survey carried out for this study, allowed JLL to sketch a scenario of the segment’s current state in Portugal, which already has two units operating in Lisbon, for a total 50 beds: the SameSame, located downtown with 15 suites; and the Outside, at Cais de Sodré, with 25 rooms.

Besides these, there are a further 500 beds on the pipeline expected to be operational within the next two years in Lisbon and spread across three already confirmed projects: the SmartStudio (114 rooms), Hub Criativo do Beato - Beato Creative Hub (120 beds) and another with 300 beds.

Porto does not remain outside this trend, having already confirmed one project of this type: the B-Hive Studio, which will offer 40 beds and should be finished within the next two years.

Besides these, Maria Empis advanced at the occasion that more projects should appear in Porto, in Cascais and in locations connected to surf such as Ericeira and the Alentejo Coast.

According to the numbers presented in this study, it is estimated that the potential demand for this type of shared housing might reach between 16.000 and 18.000 beds in Lisbon and Porto, which means 25 times as much as the current pipeline.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!