Co-Living Caters to Millennials, Says Short Term Rental Company CEO

By the next year, over 35% of the global workforce will be made of the Y generation, said Tuesday Vonder GmbH CEO Yoni Karako, speaking at Calcalist’s WeTechBerlin conference.

Founded in 2016 and based in Berlin, Vonder offers co-living rental apartments for durations of six months or more. The company operates locations in Berlin, London, Warsaw, and Dublin, with locations in other European cities including Budapest, Paris, and Barcelona slated to open soon.

Millennials, compared to previous generations, do not want to own houses, take a loan, or be alone, Karako said. Many millennials choose co-living because they want more opportunities to socialize, he added, and even more are willing to pay extra in return for services that come with their apartments, such as food and laundry services.