1.1 Market definition and scope of the study
The coliving market in France refers to the economic activity related to coliving in France. It is a hybrid concept between furnished rentals and hotels. Coliving offers a new form of shared accommodation that is growing rapidly around the world. It offers rooms or studios in houses or residences, allowing people to enjoy both the independence of a private space and common spaces (kitchen, living room) to create social links. It is part of the broader trend of third places, spaces centered on the sharing economy and on the concept of community, just like coworking. The community dimension is thus a central component of this offer, as are the integrated services.
After a solid development of this market in recent years on the Asian and North American continents, coliving is now experiencing a craze in Europe: in 2019 there are more than 23,000 coliving spaces already built or under development. The main cities involved are often administrative or economic capitals, and we find in the ranking of cities according to their progress in the coliving sector several French cities: Paris is in 4th position, Lyon is 21st, Lille is 33rd and Marseille is 35th.
In France, coliving is on the cusp of strong growth, with over 3,000 spaces currently in the planning stages in many French cities. Nevertheless, it remains largely unknown to its main target group, young professionals, which is still a considerable obstacle to the market's expansion despite its real growth potential.
1.2 The growing European market
After a solid development of the coliving market in Asia and the American continent, coliving is now experiencing a craze in Europe.
According to the JLL Index, in ****, there were **,*** coliving spaces already built or under development.
The cities where this market is most developed are London and Amsterdam, which together ...
1.2 The national market: a growth reservoir yet to be activated
A French market ready to grow
By the end of ****, there will be more than *,*** coliving spaces available in France, up from *,*** in ****, with nearly *,*** additional beds currently being planned. This supply is still relatively concentrated, with the Ile de France region accounting for about half of the French coliving ...
1.3 Impact of the Covid-19 crisis
According to industry experts, the Covid-** crisis should have had a very positive impact on the market. Indeed, the rupture induced by the confinement and social news provoked a renewed interest for social link and community life. Young adults are increasingly attracted by the possibility of living together while maintaining their ...
1.4 Expert interviews
*. Benoît Jobert, The Babel Community
About the survey conducted in partnership with YouGov: what do you think of the data collected? Are you surprised by these results, especially by the proportion of young adults who have never heard of coliving?
I'm not surprised. Coliving is a relatively new term, and ...
ANALYSIS OF THE DEMAND
2.1 Strong demand for housing in a tight real estate market
The growing difficulty of accessing housing in French metropolises
The French real estate market is becoming increasingly tense, making it considerably more difficult to access housing, especially in the metropolitan areas. This difficulty in accessing housing is due in particular to a strong increase in housing prices: these reached an index ...
2.2 The need for social ties
The growing need for social ties in France is another central factor in the demand for coliving. Indeed, French demographics are marked by a growing phenomenon of household breakdown, with a significant number of people living alone. The following graph shows that the proportion of men and women living alone has ...
2.3 A significant and growing need for shared services
One of the main added values of coliving facilities are the shared services. The latter are the subject of a significant and growing interest from the population in France. Among the most requested shared services, there are gyms (***).
The most requested shared services France, ****, in
In addition, a significant proportion of ...
2.4 The main target of coliving: young adults and people in transition
Coliving, because it relies on social ties and a high degree of flexibility of supply, is mainly aimed at two targets: on the one hand, young active adults living alone, and on the other hand, people in a period of transition (***).
However, the main target remains the first category of population, ...
3.1 Strong and dense external competition
There are many substitutes for coliving facilities, and these substitutes constitute de facto competition for the sector. The following table lists the competition to the coliving sector in * categories, direct competition and indirect competition (***).
The main competitor of coliving is the rental of a furnished apartment (***). On the other hand, traditional ...
3.2 The main forces at work
We can distinguish two main types of actors in the coliving sector: investors and operators. The latter manage the operation of coliving establishments. Sometimes, investors and operators are confused, for example the Axis real estate group which owns the brand The Babel Community.
The following table ranks the main players in ...
3.3 The main competing market: furnished apartment rentals
In spite of its structure of individual rooms in a common house, coliving does not face the competition of the colocation but of the rental of furnished apartments. Indeed, renting furnished apartments, like coliving, allows a certain comfort (***).
Competition from furnished rentals is currently very fierce: for the same budget and ...
3.4 The second competing market: shared apartments
According to LocService, a specialist in the rental market, sharing a room is the most economical way to live, making this housing solution a direct competitor for coliving. The following graph shows the average monthly rent for a shared room, including utilities, in ****. While the national average is ***€, there are strong ...
3.5 Interview with Maxime Sauvanet, founder of Les Pénates
Marine: Welcome to the Niche, the podcast that analyzes the niche market with the entrepreneurs who are moving the lines. I'm Marine and I work at Businesscoot, the startup that dusts off market research. Before we get started, subscribe to our podcast on Spotify and Apple Podcast. And now, let's get ...
ANALYSIS OF THE OFFER
4.1 Social link and services: the focal points of the offer
In a housing market that has been very tight for several years, coliving has strong comparative advantages that are gradually emerging as a valid alternative. This is particularly true for services and the community dimension, which are the main advantages of coliving for young adults between ** and ** years old, the main ...
4.2 Typology of the accommodation offer
The coliving industry offers various accommodation solutions, from shared rooms to studios or even apartments with several rooms:
Shared room: shared rooms accommodate between * and * people, are fully furnished and often equipped with a bathroom. This type of offer is not very common, but it allows to propose a very competitive ...
4.3 Coliving prices
As previously mentioned, the main competition for coliving comes not from shared apartments but rather from furnished rentals. As such, coliving prices are also comparable to those of furnished rentals. While prices vary widely from city to city or according to the level of services offered, it is estimated that the ...
5.1 A still limited and restrictive legislative framework
Because of its hybrid status between colocation, furnished rental and services inherited from the hotel industry, coliving is still subject to a vague regulatory framework. Indeed, the concept does not correspond to the framework of the hotel industry, nor to the framework of the residential sector. This vagueness creates uncertainty on ...
POSITIONING OF THE ACTORS
6.1 Segmentation of the players present on the French coliving market
- The Babel Community (Axis)
- Bouygues Immobilier
- Vinci Immobilier
- Dove Vivo
- Kley groupe
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