MANILA—Many young professionals in the capital region are seeking co-living facilities near their workplaces instead of enduring hours-long commute, according to a real estate service company.
Workers are willing to live with their peers in shared housing facilities to cope with worsening traffic, Colliers International Philippines senior research manager Joey Roi Bondoc told DZMM radio on Friday.
"Base sa survey namin, 3 oras 'yong ginugugol nila pagpunta. Minsan pa nga pag-umuuwi, mas matindi, 4 to 5 oras," he said.
(Based on our survey, they spend as much as 3 hours on their way to work. Sometimes, on their return trip, it's much worse, 4 to 5 hours.)
Workers are willing to shell out at least P4,000 to live in a shared studio or one-bedroom condominium unit, Bondoc added.
Since young professionals cannot afford to buy or lease out condominium units on their own, especially within major hubs such as Makati and Ortigas, they pool funds from friends or officemates.
For Bondoc, co-living appears to be a short-term solution to the unbearable traffic situation due to simultaneous construction and rehabilitation of railways and expressways across the metro.
"Hangga't hindi makompleto ang mga imprastrukturang ito, mahihirapan talagang bumiyahe ang ating mga kapwa manggagawa," Bondoc said.
(Until these infrastructure projects are completed, workers will continue to suffer.)
Demand for residential property for lease is expected to increase to 152,000 condominium units in 2021 from 128,500 in 2019, Colliers said in its property market reports for the third quarter of 2019.
With the rise of co-living spaces, the real estate firm urged property developers to incorporate features such as childcare facilities, private lounges and fitness centers, or a place where young professionals can live, work and play.