Co-living is evolving all around the world, meeting the needs of younger generations who aren't interested in buying a home and who want to live with less. A new report from Secret Agent examines the phenomenon.

Co-living spaces are popping up in major cities all over the world, including London, New York and Tokyo.

The main features of co-living are:

• well designed communal spaces
• communal activities
• the deliberate fostering of community and belonging
• flexibility of tenure
• furnished rooms
• single payment covers bills, and even amenities such as shampoo, coffee, and gym access

Co-living meets the needs of younger generations who are more interested in travelling and experiencing the world than settling down with a home and mortgage.

Co-living is also in line with the growing 'living with less' movement.

Good design and planning are essential for co-living dwellings to work. Another downside of co-living is the perception that co-living is an inferior form of accommodation.

However, the Secret Agent report concludes:

Overall co-living will not be for everyone however Secret Agent feels that this is a beneficial addition to the housing market. It will be interesting to see if co-living truly takes off in Australia as it has in the USA and other parts of the world.

If it does, it will have major benefits for many who choose to embrace it including decreased loneliness in society and an increase in sustainable living options. It will also enable our cities to continue growing by providing a way to accommodate more and more people.

Read the Secret Agent report Co-Living: The Inside Perspective here.

Read more about co-living:

Exploring co-living as a model for future cities

Co-living: next big trend in real estate?

Australia lacks sufficient purpose-built housing for students, says Savills