According to a report released by RSQUARE Analytics (RA) on the 26th, the number of co-living housing units in Seoul reached 7,371 as of Q1 2025, increasing 4.7 times over the past nine years. Rental demand has also risen by an annual average of 22% between 2022 and 2024. Notably, lease contracts surged by 29% in 2024 compared to the previous year.

With this growth trend, major domestic and international companies are actively entering the market. Domestic firms such as 'MGRV', 'DDPS' (an affiliate of SK D&D), 'SLP' (a Shinyoung affiliate), and 'KT Estate' are expanding their businesses, while the global operator 'Weave Living' has already entered the Korean market. Additionally, 'Cove' is preparing to open two locations in Seoul in collaboration with 'Honors Asset Management' in the first half of this year.

However, challenges remain behind this rapid growth. The median rent for co-living units in Seoul is 900,000 won, with rent per exclusive area being up to 2.6 times higher than that of officetels. RSQUARE Research Center identified the key challenges as △higher rent compared to officetels △limited exclusive area, and △inconvenience in utilizing common spaces.