In 2023, Vulcan Post reported on a survey of expatriates’ lifestyles in various countries, which found that the majority of expats are satisfied with their lives in Singapore. However, that study also revealed that over 70% of respondents also deemed housing to be unaffordable in the city-state.
In addition, more than half of expats find the general cost of living in Singapore exorbitant, leading them to consider either downsizing to smaller and more modest accommodations or even relocating out of the country altogether, which raises concerns about a potential mass expat exodus.
With the limited options and tightened budgets, many have become more price-conscious and pessimistic about finding their ideal home.
Thankfully, there has been an increased awareness of alternative housing options for expats entering Singapore—one Redditor, for instance, who was searching for a six-month lease, was recommended by others to consider co-living spaces.
Vulcan Post spoke with Eugenio Ferrante and Ahmed Shaariq Nizar, the founders of co-living operator Casa Mia, to find out more about the common challenges faced by expats in their house search, why co-living properties are a viable option for them, as well as how Casa Mia simplifies the process while adapting to the ever-changing nature of Singapore’s housing market.
Educating the public on co-living
Co-living spaces are defined as houses that rent out individual rooms within a single property, providing access to shared amenities such as kitchens and dining areas, and organising events and activities for members to cultivate a sense of community among tenants.
According to Eugenio and Ahmed, this concept was not widely understood when Casa Mia first launched in 2019, often being confused with traditional shared apartments or student dorms. This made it challenging to gain the trust of tenants and landlords.
“Many landlords preferred long-term leases and were hesitant about multiple unrelated tenants sharing a unit. There was also scepticism about the “community” promise; people questioned whether we could maintain quality and harmony among members from different backgrounds,” lamented Eugenio.
Despite that, the pair remain undeterred, and their community and social events helped them gain referrals through word of mouth, ultimately growing their client base. They attributed this to the increased need for social connection, which led to a shift in priorities from long-term property commitments to community-focused experiences.
“The ready-made network of Casa Mia members makes settling in faster and less lonely, a huge plus for expatriates and digital nomads,” added Eugenio and Ahmed.
Interestingly, the COVID-19 pandemic also turned out to be a blessing in disguise for the business. As more individuals moved towards hybrid or remote work arrangements, the demand for homes that doubled as offices also increased. “Casa Mia’s focus on ergonomic furniture, high-speed internet, and desk space in rooms made it attractive,” said Ahmed.
Simplifying the house search
As expats themselves, Eugenio and Ahmed had their fair share of experiences moving across the globe for work. Upon moving to Singapore in the 2010s, they realised that many young professionals aged between 20 and 34 faced hurdles when settling down in the city-state.
“In Singapore, the housing market moves fast; good deals disappear quickly, but securing them requires an upfront commitment and a lot of administrative hassle. It’s especially daunting when you arrive without friends or family here, because you’re not just finding a home, you’re trying to find a community,” explained Ahmed.
Casa Mia’s platform and model aim to address three common challenges faced by expats. Its first goal was to simplify the house-hunting process for them by being transparent with their listings.
The company offers interested tenants a 360-degree virtual tour for every property listed on their website, providing a clear view of the amenities included and the level of maintenance before they submit their application. For those who prefer to see the potential room in person, they can still choose to opt for a physical viewing.
To complete the application, Casa Mia requires you to provide a valid form of identification (e.g., your passport/NRIC) and proof of your immigration status (if you are not a citizen). You can then move in after signing the membership agreement.
Another challenge faced by many expats in and out of Singapore is the fear of having nightmare housemates, where tenants are often unaware of behaviours they weren’t aware of before paying their deposit.
To combat this, Casa Mia has a matching questionnaire for interested applicants to complete before they are offered a membership agreement. Think of it as a personality test combined with your interview with a potential landlord.
Through these small but thoughtful additions, Casa Mia has attracted over 2,000 members from more than 70 nationalities since its launch, achieving a 93% occupancy rate.
Eugenio added that the company has also streamlined its operations and increased its overall efficiency, bringing in S$8 million in annual revenue in 2024, a 30% year-on-year increase.
Its tenant-first model has also helped it remain resilient through an uncertain economic climate, following Trump’s tariffs and layoffs this year, which led to slower hiring and higher interest rates influencing housing demand.
The founders shared that their accessible houses gave them a substantial buffer against occupancy drops, and their member activities also create a stickiness that helps maintain occupancy without competing solely on price.
Having said that, they acknowledged that people have become more discerning of where they live and the opportunities to connect, and have added more compact, budget-friendly rooms for these clients. They have also worked with employers and universities to secure longer housing agreements for staff and students, respectively.
Casa Mia has also experimented with hybrid models, such as introducing shorter-term stays or gap periods, to monetise idle spaces.
Despite uncertain times, Casa Mia plans to expand beyond Singapore
Casa Mia plans to continue adding rooms in high-demand neighbourhoods and East Singapore to offer more housing choices. They also plan to further develop ColivHQ: Casa Mia’s property management and community platform, and introduce AI-powered recommendations to enhance compatibility and engagement.
“We’re [also] in early talks with multinational companies to provide relocation-ready housing solutions for their young professionals,” added Ahmed.
Both founders also expressed their ambitions to expand beyond Singapore into regional cities with strong expat inflows and limited mid-term housing options, as well as introducing a member mobility program that allows members to move between properties and eventually, countries, with minimal downtime and no deposit hassles.
- Learn more about Casa Mia Co-Living here.
- Read more stories we’ve written on Singaporean businesses here.
Featured Image Credit: Casa Mia Co-Living