The CEO of co-living startup Hmlet is capitalizing on the rise of long-term renters, calling buying a home “completely crazy,” according to CNBC.
That’s the assessment from Yoan Kamalski, the founder of Singapore-based co-living start-up Hmlet. Instead of purchasing property, he told CNBC on Tuesday, many people in places like Australia and Hong Kong would rather rent “all their lives.”
Hmlet operates co-living spaces in Singapore, Tokyo, Hong Kong, and Sydney, which let members rent rooms under flexible leases.
Co-living is one of the industry’s top trends, according to a 2018 survey from commercial real estate firm CBRE Group.