Singapore s nascent co-living market is currently fragmented and small compared to other established markets, but will create significant opportunities for investors and operators in 2023 and beyond. According to JLL (NYSE: JLL), the market has the potential to expand by close to 3,000 keys by the end of 2023, building on the 9,000 rooms currently managed by 20 active co-living providers, as consumers seek more affordable and flexible housing options.
Hotels are gearing up for a recovery in Asia’s travel industry as countries begin to roll back Covid-19 restrictions, with companies and even government agencies ramping up marketing campaigns.