M Village - the first co-living model in Vietnam.

Many of us have experienced, are experiencing, or will likely experience living in a shared student home – a combination of affordable housing and social interaction. For a reasonable price, students can live in a multi-room apartment, each with their own room and shared kitchen, living room, or balcony.

In fact, nowadays, it's not just university students who live this way; the concept of co-living, a model "expanded" from shared housing, is increasingly becoming an attractive and effective solution.

In Vietnam, the first shared living space chain model, M Village, has recently emerged, co-founded by Nguyen Hai Ninh - former founder of The Coffee House. This model is ready to welcome the first young urban residents in Vietnam.

WHAT IS CO-LIVING?

Co-living is not a completely new business model or lifestyle in the world, but it has only been introduced to Vietnam in the last few years.

Co-living is a modern living model where shared spaces are occupied by groups of young people with similar interests or occupations. Those living together share rent and some common areas like the kitchen or living room. However, each person's personal space is completely separate. This model can be simply envisioned as a co-working space, but the target customers are individuals rather than companies.

Co-living is gradually flourishing in several developed countries in Asia, and this model is becoming increasingly suitable for young people, especially in dynamic cities like Shanghai, Tokyo, and Hong Kong.

Explaining this boom, economic experts believe that a large proportion of young people belonging to the Millennial generation (those born in the 1980s and early 1990s) in Asian countries are increasingly favoring the co-living model. Millennials grew up with technology, social media, and an integrated economy, and are the main workforce of the present and future; in Vietnam, about 35% of the population belongs to this group. They are highly adaptable and always willing to share amenities with each other. Owning a private apartment is no longer a criterion for this generation. Therefore, it is not surprising that co-living is on the rise.

Furthermore, similar to the co-working model, the belief that with rising living standards and increasing feelings of loneliness and difficulty making friends, the co-living model will boom in the near future. Capitalizing on this trend, and driven by the founding team's vision of a progressive community for young Vietnamese people in the future, M Village – the first shared living space in Vietnam – was born.

M VILLAGE – THE FIRST SHARED LIVING SPACE IN VIETNAM

M Village, the first shared living space, is built in a spacious and quiet neighborhood on the main thoroughfare of Vo Thi Sau - Tran Quoc Thao (Ho Chi Minh City), one of the few central areas that still retains open-plan housing architecture connected to nature, creating an airy, peaceful, and civilized living space for residents.

Each apartment in M ​​Village is fully furnished, featuring a smart and highly functional kitchen. The communal living space – an integral part of the co-living model – includes a library, a garden surrounding a lake, a roastery and specialty cafe, and a BBQ area.

M Village officially opened on May 15, 2021, with its first branch in the heart of Ho Chi Minh City. Room rates range from 8 to 16 million VND depending on the room type and number of occupants. According to M Village, their target audience is young people whose needs and living standards are increasingly different from those of the older generation. Having grown up with technology, media, and an integrated economy, they possess a strong ability to connect, adapt, and share with like-minded individuals.

“With the desire to redefine ‘how to live happily’ with them, M Village will be a place where ‘living is not just confined within four walls,’ it must be a world brimming with inspiration, meaningful connections, and diverse cultures so that you and I can be happy together as we live, build, and share positive values ​​that enrich each other’s lives.” - Nguyen Hai Ninh shared.

In the future, the founding team aims to bring M Village to a wider audience of progressive young people in many cities across the country, not only in Vietnam but also in the region, to further expand the community of civilized young people with sustainable living values ​​without boundaries.

Co-living can be described as more than just a housing solution; it's an experience focused on connecting and sharing with the world in a colorful, friendly, and comfortable space that meets the needs of young people worldwide.

Huyen Chau