Core Viewpoint - The article discusses the transformation of commercial real estate through the lens of living spaces, emphasizing the shift from hardware-centric value to emotional value production as a new currency in the industry [3][4]. Group 1: Market Trends - The emergence of new community living forms, such as co-living and digital nomad communities, reflects a shift in real estate logic, focusing more on social interaction and human connections rather than just physical space [6][8]. - The rental market is experiencing a downturn, with high rents not translating into desirable living conditions, leading to a decline in the usage of communal spaces [6][12]. - The article highlights the increasing popularity of flexible living arrangements, such as short-term rentals and community-driven spaces, as a response to changing consumer preferences [14][15]. Group 2: Business Strategies - Companies are adopting differentiated strategies to address vacancy pressures, such as flexible rental terms and community engagement initiatives [14]. - The integration of lifestyle elements into living spaces is becoming a key focus, with businesses exploring ways to create value beyond traditional rental income [13][15]. - The article notes that the market is evolving, with new players entering and existing companies rethinking their operational models to enhance user experience and engagement [14][15]. Group 3: Future Outlook - The article suggests that the market for long-term rentals will see significant opportunities by 2025, as borrowing costs decrease and real estate valuations stabilize [14]. - The potential for creating living environments that foster community and collaboration is highlighted as a critical factor for success in the evolving real estate landscape [15].