Coliving benchmarks by city
Per-bed revenue, cap rate, occupancy, OpEx ratio, target IRR. Operator-grade data for the 10 cities where coliving is most concentrated.
Lisbon, Portugal
RevPAB
€550–€720
Cap rate
5.5–7.0% (stabilized)
Occupancy
88–94%
Target IRR
12–16% (5-year hold, asset-heavy)
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Berlin, Germany
RevPAB
€650–€820
Cap rate
4.5–6.0% (stabilized, low because of demand depth)
Occupancy
85–92%
Target IRR
9–13% (5-year hold)
Read the city brief →
Madrid, Spain
RevPAB
€520–€680
Cap rate
5.5–7.0% (stabilized)
Occupancy
87–93%
Target IRR
11–14% (5-year hold)
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Austin, Texas, USA
RevPAB
$650–$900
Cap rate
6.0–7.5% (stabilized)
Occupancy
90–95%
Target IRR
14–18% (5-year hold, asset-heavy SFH-converted)
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New York City, USA
RevPAB
$1,100–$1,500
Cap rate
4.5–5.5% (stabilized — capital-attractive even at low yield)
Occupancy
88–93%
Target IRR
8–12% (5-year hold)
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London, United Kingdom
RevPAB
£950–£1,300
Cap rate
4.5–6.0% (stabilized)
Occupancy
87–93%
Target IRR
10–14% (5-year hold)
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Bangalore, India
RevPAB
₹15,000–₹28,000
Cap rate
9–13% (stabilized — emerging-market cap)
Occupancy
85–93%
Target IRR
16–22% (3-year hold)
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Mexico City, Mexico
RevPAB
$420–$650
Cap rate
8–11% (stabilized — emerging market premium)
Occupancy
85–93%
Target IRR
16–22% (3-year hold)
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Singapore
RevPAB
S$1,800–S$2,400
Cap rate
3.5–5.0% (stabilized — capital-attractive low yield)
Occupancy
85–92%
Target IRR
8–12% (5-year hold)
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Dubai, UAE
RevPAB
AED 4,500–AED 6,800
Cap rate
7–9% (stabilized — emerging coliving market premium)
Occupancy
82–90%
Target IRR
14–18% (3-year hold)
Read the city brief →
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