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

nIndian 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.nThe platform is set to launch early March, and will target millennials who prefer to rent rather than buy properties.nOyo 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.nThe 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.nn

Source: Nikkei Asian Review