In brief: Oyo, Yahoo Japan to launch apartment rental service

• Indian hotel management firm Oyo has entered into a joint venture with Yahoo for an apartment rental service in Japan. Oyo Life marks Oyo’s full-scale entry into the house rental business.
• The platform is set to launch early March, and will target millennials who prefer to rent rather than buy properties.
• Oyo Life enables users to find, rent, and leave apartment rooms via a smartphone app. It aims to achieve 1,000 listings by the end of the first quarter.
• The concept of co-living spaces is gaining traction in Asia. However, the market in Japan is “virtually nonexistent,” which gives Oyo Life a competitive advantage.

Source: Nikkei Asian Review