Refers to the physical space where one lives, often used in architectural, interior design, or real estate contexts.
This apartment has a spacious living space and is comfortable.
I'm considering renovation to improve the living space.
Broader term encompassing all spaces used in daily life, not limited to the dwelling itself.
Compound of 住 (living) and 空間 (space). The exact historical derivation is uncertain, but the word is a straightforward modern coinage.