According to a market survey by MyTown, the average millennial spends three hours a day commuting and three to nine days of their income on transpo cost. And according to their CEO, Mark Kooijman, that 1,200-respondent survey in 2012 also showed that 90% lived with parents or family members.
We can relate, so we were interested in their goal with the MyTown dormitories: reduce that travel time to a few minutes walking while costing less than what you'd spend on commuting anyway.
MyTown Auckland on Harvard St. in Makati is their 14th building and lies just off Kalayaan Avenue, a few minutes walk away from 32nd St. in BGC.
The units go from 10-12sqm, which is small indeed compared to a traditional condo. Basically, you sleep in the room and do the rest of your actual living in the common areas and other amenities.
Their main selling point is that MyTown dorms are purpose-built to the need of a young professional (and safety standards for corporate clients), so it feels less shabby and impromptu than a traditional bed spacing arrangement in a home or informal condo-share.
Perhaps the biggest barrier of entry is how compact the setup is–if you're claustro or used to having a big personal space at home then it may be hard to adjust. But if you don't mind sharing and are attracted by the price and precious time saved in traffic, then co-living might be the move you need.