Co-living properties are one way investors can help address the demand for affordable housing, and truly change the housing landcsape in Australia. Find out why I say ‘everybody wins’ when a single-family home becomes a co-living micro-apartment conversion, in my chat with Sky News’ Laura Jayes below.
Australian Housing Initiative’s Ian Ugarte says a new initiative called “co-living” is good for investors and those looking for housing while costing the government nothing.
“So in co-living what we do is, there’s 13.5 million empty bedrooms in Australia every night, so it’s not about creating more housing, it’s actually creating adaptability within the houses we’ve got,” he said.
“So what we do is we take the larger houses … we convert them into micro apartments, so effectively we give every person a bedroom, an en suite, a kitchenette and they share one communal area of the house.
“By doing that they save themselves one third to one half off the normal weekly rent, the investors then take their properties off short stay and they have long stay markets.
“We free up more housing because now we’ve got more people into the small house which is what the family house was built for, four, five, six people.
“It costs the government zero, we’ve got the mum and dad investors that have just bought a property to help themselves out into the future creating an outcome where everyone wins and no one loses out of what we do.”
WANT MORE? WATCH THE FULL INTERVIEW, HERE
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