- A Home That Fills Time, Not Just Passes It... Coliving Strategies That Change Lifestyles
- ‘Deoseu Pangyo,’ a New Concept Residential Space That Adapts to Residents
‘Deus Pangyo,’ which opened last July in Pangyo, home to advanced companies and startups, is the largest coliving space in the Seoul metropolitan area with 521 households. It gained popularity by selling a ‘residential experience’ that changes residents’ lifestyles through convenience services and community content, rather than just ‘living space.’
According to a representative from Deus, “When we first opened a large-scale coliving space in the Second Techno Valley, not near Pangyo Station?the main commercial area and office concentration zone in Pangyo, the IT hub?there were many skeptical views within the industry. Especially since ‘Deus Pangyo’ was priced at rents 30% higher than the surrounding market rates, we thought there might be initial entry barriers.”
However, Deus Pangyo was able to achieve an occupancy rate of over 90% within about a year, thanks to planning various shared spaces and customized unit interiors to enhance resident satisfaction from the start, and introducing residential services and community programs. This success was possible by continuously analyzing real-time data on space usage frequency, service and community feedback through platform integration of facilities and services, and making ongoing improvements and repurposing of facilities and services with low actual usage and satisfaction. “Our goal is to provide Deus Pangyo’s unique residential solutions based on customer data and experience obtained through this platform,” the representative said.
While recently launched high-end officetels focus on hardware investments such as imported luxury finishing materials, swimming pools, golf practice ranges, and fitness centers to justify high sale prices and rents, Stevens, the operator of ‘Deus Pangyo,’ maintains a strategy of strengthening software like residential services and content preferred by residents based on customer data.
According to the KB Management Research Institute’s Korea Single-Person Household Report, the top difficulties in daily life are meals, cleaning, and home repairs. In fact, ‘Deus Pangyo’ directly provides breakfast service, room cleaning, and unit repairs, and enhances resident satisfaction through community programs held more than 10 times a month involving residents. They are also accumulating customer databases through the Deus resident-exclusive app and in-depth resident interviews.
A distinctive feature of the Deus Pangyo community is the crew activities created directly by residents. Residents act as hosts to form groups and autonomously manage the community, building a resident network that leads to high satisfaction and engagement. These crew activities are also open to prospective residents and local residents, contributing to the formation of the local community.
Stevens conducts various internal surveys from move-in to move-out to improve resident satisfaction. In the first half of 2022 survey, 81.9% of 93 respondents said they would recommend moving into Deus Pangyo to acquaintances. Additionally, based on the third-quarter residential satisfaction survey, more than half of 119 respondents expressed a desire to participate in community activities, indicating a positive perception of the community programs among residents. Stevens continuously seeks to differentiate and improve the community based on these insights.
A Stevens representative stated, “With flexible contracts allowing residents to choose from short-term stays of two months to long-term stays of over a year, a diverse range of customers including Pangyo company employees, freelancers, startup CEOs, and foreign interns are choosing ‘Deus Pangyo.’ In today’s housing market, where interest rates, land costs, and construction costs are all rising, resident-centered software like the Deus Pangyo case can be the optimal solution for achieving investment returns. Therefore, Stevens plans to apply optimized space product planning, residential services, and specialized community program strategies to new sites going forward.”
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