The coliving market as an emergent financialized niche real estate sector: a view from Brussels

This paper addresses coliving as a product shaped to attract both young professionals in a student-style accommodation and investors of various scales, while integrating new geographies and housing types into capital accumulation. Taking Brussels as case-study, it answers the question ‘how are new residential products created by the financialization process affecting the private rental sector?’ by combining quantitative and qualitative methods. The paper also provides results on intra-urban geographies of financialized housing. First, coliving is aimed at a particular market segment consisting of young international workers attracted by the international functions of Brussels. To attract this clientele to a student-style accommodation, operators must promote a unique experience. Second, the Brussels coliving market illustrates that the financialization of the private rental sector relies notably on the creation of new products shaped so that investors of various scales can easily inject their capital. Third, most Brussels coliving establishments remain small-scale projects located in renovated old single-family houses.