Mumbai most preferred city for co-living in India, ranks 5th in Asia Pacific

New Delhi, Sep 10: Mumbai ranks 5th among 20 cities in Asia Pacific that can emerge as co-living destination, property consultant Knight Frank said on Monday. Beijing, Tokyo, Shanghai and Hong Kong are the top four cities in the list.

New Delhi at 11th rank and Bengaluru at 19th are the two other Indian cities in the list, according to Knight Frank's report 'Insights on Co-living - An Asia-Pacific Perspective'.

The report covers 20 major Asia-Pacific cities classified into six key attributes that are likely to contribute in fostering the growth of co-living. The six attributes are tech & financial hub, venture capital deals & growth, housing affordability, university population, general population & human development index, and quality of life.

Job opportunities in the financial sector and low housing affordability are major driving factors for the growth opportunity in the co-living sector in Mumbai with 55 per cent weightage as per the co-living Index, the statement said.

Mumbai's large population is another major factor that offers scope for market penetration by domestic co-living operators.