Shared living spaces are booming in major cities as young people seek a more sociable lifestyle, according to the entrepreneurs behind the "co-living" accommodation trend (+ slideshow).
A cross between student housing and hotels, co-living spaces offer tenants serviced rooms in shared apartments with communal lounges, kitchens and bathrooms.
The Collective's co-living space in Old Oak Common takes over a former office block and is due to open in May 2016
Demand for this type of accommodation ? where everything from washing-up liquid to toilet roll is supplied ? is soaring, according to James Scott, chief operating officer of London-based co-living developer The Collective.
"In every other industry you've got an ownership model and you've got a service model," he said. "The property market doesn't have that." "We realised there's a gap in the market for this new way of living, which we somewhat coined the name 'co-living' to reflect it."
On-site cafes and restaurants are included in many co-living blocks, including The Collective's new scheme in Old Oak Common
The Collective has already opened co-living spaces in prime locations including Kings Cross and Notting Hill in London, and is working on two more this year.
Scott said the movement reflects how young people, who accept they can't get a foot on the property ladder, now value experiences over possessions.
He points to Uber, rental bike and car services, mobile ph...