The housing landscape in Europe is changing dramatically as economic challenges and the changing preferences of young people lead to a new trend: co-housing.
Gen Z is embracing this approach, seeking affordable and flexible housing solutions in an environment characterized by rising rents and limited housing supply.
According to recent Eurostat figures, over two-thirds of Europeans aged 18-34 still live with their parents, due to the high cost of living and insufficient supply of affordable housing. Co-housing is emerging as a viable solution, allowing young people to share costs and enjoy a better quality of life in big cities.
MyRoomie: The Innovative Platform Redefining Rooming
At the heart of this trend is MyRoomie, a platform that eases the process of finding roommates and housing.
As the winner of the Rising Startup of the Year award at the Startupper Awards 2023 and the title of Best Newcomer from Greece at the South Europe Startup Awards 2023, MyRoomie is recognized for its innovation and market impact.
Innovative AI/ML technology
MyRoomie stands out for its innovative AI and Machine Learning approach. “We are developing a unique technology infrastructure that will transform the way people find roommates,” says Dominikos Pritis, founder and CEO.
The platform leverages:
• Advanced matching algorithms for optimal roommate compatibility
• Market trend forecasting and price optimization systems
• Natural language processing technology for improved communication
• Fraud detection algorithms for increased user security
The power of data
MyRoomie’s approach to artificial intelligence is based on:
• Extensive collection of user interaction and preference data
• Unique data set for the European co-housing market
• Strict GDPR compliance and personal data protection
• Continuous improvement of forecasting models
Cohabitation as a response to the housing crisis
The affordable housing crisis is an issue that affects the whole of Europe. The European Commission’s Housing Market 2023 report reveals that a third of European renters spend more than 40% of their disposable income on housing costs, far exceeding the recommended limit of 30%.
Co-housing offers a practical solution to this challenge, reducing the financial burden and allowing young people to live in areas that meet their professional and personal needs.
In addition, the rise of remote and hybrid working, as reported in Eurofound’s 2023 survey, has changed the way young people perceive location and housing requirements.
MyRoomie’s commitment to supporting the new generation
“At MyRoomie, we recognize the challenges young people face in finding affordable housing,” says the MyRoomie team. “Our platform was created to offer a reliable and efficient solution, connecting people with common interests and needs.”
With advanced search filters, communication tools and a secure environment, MyRoomie facilitates the process of finding the ideal roommate and residence, while the AI and Machine Learning system under development will elevate the user experience. The platform meets modern demands, promoting community and solidarity among its users
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