Rapid urbanization and the widening disparity between household income and housing costs have made co-living a practical alternative that significantly lowers living costs through economic sharing. This study aims to examine the determinants influencing millennials' motivations to rent co-living housing, including economic, locational, physical and psychological factors.
An online self-administered questionnaire was used to examine these determinants using partial least squares structural equation modelling (PLS-SEM), with a purposive sampling of 208 millennial tenants. In addition, a focus group was organized to capture the opinions of ten participants in depth.
The results revealed that physical, economic and locational attributes significantly impact millennials' motivations to rent co-living housing. While psychological flexibility may not directly predict motivations, it does exhibit an indirect relationship with co-living motivations through the mediating influence of locational and economic factors.
This study provides valuable insights to co-living service providers on how to design suitable living arrangements that cater to the demands of millennials in urban areas.
The field of co-living receives less attention compared to traditional home purchasing in developing countries. This study aims to provide insights into millennial tenants’ preferences for co-living, shedding light on their perceptions of this emerging housing trend in Malaysia.
