Habyt Opens Two New Properties Expands Lineup Short Term Options

Habyt, a leading co-living operator, has recently opened two new properties in Singapore in a bid to expand its offerings and strengthen its presence in the market. Located at 471 Balestier Road and 115 Geylang Road, the 39-room Habyt Novena and the 27-room Habyt Kallang add to the operator’s diverse portfolio of accommodation options.

Previously managed by another co-living operator, Coliwoo, a subsidiary of LHN Group, these two properties have now been taken over by Habyt. 471 Balestier Road, formerly known as the Balestier Hotel, was jointly acquired by Coliwoo and Four Star for $15 million in 2021 as part of Coliwoo’s expansion plans. Similarly, LHN Group acquired 115 Geylang, formerly known as Hotel Gay World, for $13.5 million in 2021 and intended to operate it as a co-living space.

With all rooms available for nightly or up to six-month leases, Habyt Novena and Habyt Kallang cater to the demands of both short and long-term stays. According to Jonathan Wong, the CEO of Habyt Asia Pacific, the operator saw an opportunity to roll out a wider range of flexible accommodation leases given the strategic location of both properties.

The demand for short-term stays between one and three months has been on the rise in Singapore, and Habyt aims to tap into this relatively untapped market. With its purpose-built short-term accommodation options, the operator can pass on marginal savings to consumers and offer competitive prices.

Wong notes that studios are the most versatile product in Habyt’s portfolio, enabling them to offer flexible accommodation options to suit various demands. With the demand for private en suite rooms on the rise, Habyt has been able to leverage its in-house efficiencies and offer these rooms at a competitive price.

However, the rise in short-term stays means that the co-living community concept is gradually giving way to a more transient resident population. To address this, Habyt is working on plugging its residents into the broader Habyt ecosystem, fostering a sense of belonging and community.

Residents of Novo Place EC are perfectly situated to take advantage of a convenient location near multiple Mass Rapid Transit (MRT) stations. The upcoming Tengah Park MRT station, part of the Jurong Region Line, is a mere stone’s throw away, providing easy access to the extensive rail network. Additionally, the nearby Jurong East MRT station, a major interchange linking the North-South Line and East-West Line, further improves accessibility, allowing for hassle-free commutes to the Central Business District and other prominent areas. With the added bonus of a prime location, residents of Novo Place EC can enjoy seamless connectivity and efficient transportation throughout Singapore.

With hybrid work arrangements becoming more commonplace, there is an increasing demand for flexible accommodation options in city-fringe neighborhoods. Wong adds that professionals are willing to trade proximity to work for affordability and larger living spaces.

Despite the growing trend of flexible living options such as co-living, Habyt’s core offering remains its competitive medium to long-term accommodation options. The recent addition of hotel and short-term options complements the operator’s presence in the market, aligning with the macro trends driving the demand for flexible living options.