SIMA Crowns Spain’s Flex Living Moment, Scion + Ares Drop $910M on US Student Housing, Habyt Exits Southern Europe, Singapore Gets Its First AI-Powered Coliving, and Everything Else Coliving

Key Takeaways

• Spain flex living draws 54% foreign capital, fastest European growth
• Scion’s $910M deal makes it largest global student‑housing owner
• Habyt shifts to asset‑light model, selling Southern Europe portfolios
• AI‑powered coliving in Singapore targets tech‑builder community niche

Pulse Analysis

The rise of flex living in Spain has moved from a niche concept to a mainstream asset class, as demonstrated by SIMA Madrid’s dedicated exhibition hall. Colliers’ Q1 2026 snapshot shows foreign investors now own 54% of Spain’s living activity, with funds accounting for more than half of purchases. This influx is driven by clear regulatory signals in Madrid and successful office‑to‑flex conversions like Argis’s Flipco Retiro, giving capital‑hungry institutions a proven template for rapid deployment.

Across the Atlantic, the $910 million acquisition of a 7,578‑bed student‑housing portfolio by Scion and Ares not only crowns Scion as the world’s largest student‑housing owner but also serves as a leading indicator for coliving capital. Historically, large‑scale PBSA investments precede a wave of funding into adjacent formats such as coliving, senior shared housing, and build‑to‑rent. Investors are now structuring joint‑venture models that pair operator expertise with deep‑pocket capital partners—a playbook that will likely be replicated in the flex‑living sector as the market matures.

Differentiation is becoming the decisive factor for mid‑size operators. Singapore’s Assembly Place is launching the first AI‑powered coliving hub, targeting a community of builders and tech talent—a niche that is hard to copy. Meanwhile, Hilton’s Apartment Collection leverages a trusted global brand to add roughly 3,000 new units to its inventory, appealing to renters who value consistency and service. These contrasting strategies illustrate a broader split: asset‑heavy operators rely on scale and control, while asset‑light platforms bet on brand, technology, and distribution. As institutional buyers seek clear, defensible wedges, operators must align their financial structures with the strategic model they intend to pursue.