Co-living rental gains popularity

Real estate giant Vanke plans to create 150,000 units for residents by 2019

Two-year old Harbour Apartments, a network of co-living spaces for young tenants in China's first-tier cities, has successfully raised 400 million yuan ($60.9 million) in its A-round funding, becoming one of the first long-term rental projects to win favor on the market.

The apartment units it offers can be rented from a price range of 3,000 yuan per month to 20,000 a month.