Is Co-Living PBSA under a different name?

In 2023 we visited the Co-Living Conference in Amsterdam, and here at TPMS we are eager to share our insights. Our focus in this article is primarily on the intricate relationship between Co-Living, Purpose-Built Student Accommodation (PBSA), and the Build-To-Rent (BTR) sectors. Let's explore how these areas are connected as well as to clarify what these terminologies encompass and determine whether they represent interconnected facets of the same concept or distinct entities. 

PBSA and Co-Living: More Alike Than You Think 

Is PBSA essentially co-living? PBSA brings together groups of unrelated individuals who share living spaces. This arrangement mirrors the co-living concept, where the essence is communal living, albeit among strangers, but with the connection you are all students - from the same or different universities.  

Co-Living vs. BTR in the UK: A Confusion of Concepts? 

In the UK, we don't seem to have a consistent and clear idea on what co-living and BTR is. Many perceive BTR as co-living, but we argue that BTR ideally involves connected groups choosing to live together. In contrast, co-living typically involves unconnected people becoming connected through the co-living experience. It is unconnected people become connected people through the living experience. This distinction is crucial in understanding the landscape of shared living in the UK. 

Redefining Co-Living: Beyond Studios and Shared Spaces 

Is co-living merely an accumulation of studios with communal areas? We think it's more. The emergence of matchmaking tools like Coly indicates a shift towards curated communal living, where residents can find like-minded flatmates for apartment sharing. This approach enhances the co-living experience, transcending the traditional studio model. 

Europe's Sophisticated Co-Living and the UK's Defined PBSA Sector 

Europe's co-living model is notably sophisticated, offering diverse living arrangements. Conversely, the UK's PBSA sector is well-defined, focusing on student accommodation. However, we observe that Europe's PBSA is gradually morphing into co-living spaces. This evolution raises a question about the future trajectory of PBSA and its potential convergence with co-living principles. 

Addressing the Housing Crisis: The Role of Co-Living, PBSA, and BTR

In Europe, co-living is seen as a key solution to the housing crisis. Whilst BTR is part of solution to more homes in the UK, but do we need to re-evaluate the role of all shared living in dealing with the housing crisis we are experiencing in the UK. These sectors, beyond providing alternative housing options, are poised to actively contribute to diverse living spaces for individuals, friend groups, young couples, and single-parent families. As the sector grows, it's crucial to consider how these models can be integrated into the UK’s housing strategy, addressing not just the shortage but also the varied living needs of the population, thereby fostering dynamic, community-oriented environments. 

Conclusion 

The connections between co-living, PBSA, and BTR present a fascinating example in property marketing and housing solutions. Our experience at the Amsterdam Co-Living Conference has deepened our understanding of these relationships and the term of Purpose-Built Shared Living (PBSL) that we discovered at this conference – is helpful in connecting these sectors together. As industry strategists, we believe in the potential of these interconnected sectors to revolutionise the concept of communal living, not just in the UK but globally.  

Stay tuned for more insights and discussions as we continue to navigate the ever-evolving world of property marketing.