Earlier quoted context omitted.
in my country this is the most common form of renting. the cooperatives benefit from legal protections which prevent for profits from entering the market. however it means there is no competition and prices are artificially high. also a huge amount of corruption scandals involving the higher-ups of housing cooperatives.
Interesting. Over here (Germany) the prices in housing cooperatives are actually ridiculously low, compared to the rest of the apartment market. As a student, I lived in a single-room apartment with separate kitchen and bath, 26 square meters total, for less than 200 euros (including utilities).
But you kinda prove my point about artificially high prices. there is no reason for the prices here to be a lot higher than next door. I lived in a similarly sized 1 person appartment for years. it cost me 480 euros/mo. and that was the best deal anyone could ever get here (because in my case too, it was from the student's coop). here the 200 euro/month would get you absolutely nothing (not even a room).