What Hmlet does

Hmlet operates a flexible living and co-living platform that rents fully furnished, all-inclusive apartments to mobile professionals across Asia. Its core product is move-in-ready accommodation with utilities (electricity, water, gas, WiFi) bundled into a monthly fee, stays from one month to two years, and no traditional deposit, key money, guarantor, or brokerage fee. The platform supports online contract signing from overseas, credit card payments, online residence registration for government documents, and bilingual English support, directly addressing the friction foreign residents face in Japan and Singapore. Customer segments are primarily expats and business professionals on assignment, digital nomads, international students and researchers, and relocating professionals. The company currently manages 2,915 units across Japan (1,854), Singapore (829), and Hong Kong (232), with the Japan portfolio distributed across Tokyo and Osaka.

The business is a subscription-style recurring rental model, monetized through monthly rent plus a one-time service and cleaning fee at lease start, distributed via a self-serve website complemented by community events and referral-driven acquisition. Hmlet is owned by Mitsubishi Estate Group (三菱地所グループ) following the April 2026 reacquisition of its Asia-Pacific operations by FL Japan from European co-living operator Habyt, which had bought the brand in 2021. Under Hmlet 2.0, co-founder Yoan Kamalski has returned as CEO with a mandate to shift from growth-at-all-costs to a sustainable, landlord-friendly model, expand into Singapore HDB rentals via a 230-unit Punggol development slated for H1 2027, and pursue franchise expansion into Malaysia and Thailand plus re-entry into Australia. The long-stated ambition is to become the largest flexible living operator globally with 35,000+ units and S$80 billion operating profit by 2035, though the near-term focus is unit-level profitability on the existing 2,915-unit base.

Name

Hmlet

Legal name

Hmlet Japan Co., Ltd.

Website

https://hmlet.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Monthly Rental Revenue: Recurring monthly rental income from fully furnished flexible living apartments. Rent includes utilities (electricity, water, gas, WiFi) and comes with straightforward one-time service and cleaning fee at the start of tenancy. Supports stays from 1 month to 2 years.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Hmlet operates a fully furnished flexible living platform offering premium apartments for stays as short as one month and up to two years. Rentals include utilities (electricity, water, gas, WiFi), professional interior design, furniture, bedding, and kitchenware, with online contract signing, credit card payments, and bilingual English support for international tenants. The platform currently manages 2,915 units across Japan, Singapore, and Hong Kong.

Product overview

Hmlet operates as a flexible living and co-living platform offering fully furnished apartments across Japan, Singapore, and Hong Kong. The core offering comprises Hmlet Premium Apartments in Tokyo and Osaka (with 1,500+ managed rooms in Japan), complemented by operations in Singapore (829 units) and Hong Kong (232 units). The platform provides fully furnished apartments for flexible monthly stays with all-inclusive pricing, online contract signing, and bilingual support. A new Hmlet Punggol development (230 units) is planned for Singapore in H1 2027, marking expansion into HDB rentals.

Differentiator

Problem solved

Functional benefit

Products and services

• Hmlet Flexible Living Apartments

Quantifiable outcome

• 95% satisfaction rate reported at Osaka properties
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• HabytminorStrategic or Co-development Partner · 1 April 2026European co-living operator that previously owned the Hmlet brand and Asia-Pacific operations. FL Japan reacquired Hmlet from Habyt, marking the return of the original brand to Japanese ownership. Habyt had acquired Hmlet in 2021.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Habyt: European co-living operator that previously owned the Hmlet brand and APAC operations after acquiring Hmlet in 2021. Operates similar flexible living / co-living units across European and global markets with comparable monthly-furnished-apartment offerings targeting international professionals.
• The Collective: Co-living operator offering shared and private furnished rooms with community programming. Comparable to Hmlet's monthly furnished offerings with community-driven positioning targeting young professionals.
• Quarters (co-living): Co-living operator offering fully furnished shared and private apartments with flexible lease terms. Comparable to Hmlet's furnished monthly apartment model targeting urban professionals and international residents.
• Tokyu Stay: Japanese serviced apartment brand operated by Tokyu Resorts & Stays. Provides fully furnished apartments for short and extended stays in Tokyo and other Japanese cities, directly competing with Hmlet's core Japanese market.

Broad incumbents

• Oakwood Worldwide: Global serviced apartment and extended-stay operator with established APAC presence, particularly in Japan and Singapore. Competes with Hmlet for corporate relocation and expat demand with similar fully furnished monthly-stay offerings.
• Sonder Holdings: Tech-enabled short-term and extended-stay apartment operator offering fully furnished units across multiple global cities. Operates a comparable tech-forward flexible living model with self-serve booking, similar to Hmlet's digital platform.
• The Ascott Limited: One of the largest serviced residence operators globally, part of CapitaLand. Offers serviced apartments and aparthotels across APAC, Europe, and the Americas, directly overlapping with Hmlet's serviced apartment and extended-stay offering in Singapore and other APAC cities.

Emerging players

• Common: US-based co-living operator offering flexible shared and private furnished apartments. Comparable business model to Hmlet in the flexible living / co-living category with similar target customers (young professionals, relocations, digital nomads).
• WeLive: Co-living concept from WeWork offering fully furnished shared and private apartments with community programming. Comparable co-living business model and target customer base to Hmlet, though primarily operating in the US.
• Kasa Living: US-based flexible apartment operator offering tech-enabled, fully furnished apartments for short and extended stays. Comparable to Hmlet in the flexible living model with online booking and self-serve contract capabilities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/HmletJP
• Instagraminstagram.com/hmlet_japan
• Xx.com/hmlet_official

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hmlet